Willoughby City Lunar Festival contributes $10.2M to local economy

Willoughby City

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In a remarkable display of cultural diversity and economic impact, the Willoughby City Lunar Festival has once again proven its significance as a driving force for the local economy. The event attracted thousands of visitors and tourism dollars, injecting a staggering $10.2 million into the Chatswood CBD.

The Festival, spanning across various Chatswood locations, showcases the rich and varied cultures of China, Vietnam, Singapore, Korea, Taiwan, and Hong Kong.

The fifth edition of this highly anticipated festival witnessed a significant $10.2 million increase in visitor spending within the Chatswood CBD, representing an extraordinary 1 in $20 return on investment.

Notably, $5.8 million of this expenditure was directed towards dining and entertainment, painting a vivid picture of the Festival’s impact on local dining and entertainment.

Willoughby City Council Mayor Tanya Taylor expressed her enthusiasm for the Festival, emphasising the extensive support it garnered from both businesses and residents.

“We have such a diverse range of culture and cuisines from a diverse range of regions, some of which are only found in Chatswood,” Mayor Taylor stated. She also highlighted the ongoing media coverage of the Festival, solidifying Chatswood’s reputation as a cultural and culinary destination creating a positive ripple effect expected to reverberate throughout the year, contributing to the area’s sustained growth.

“The advantage of the Lunar New Year Festival,” Mayor Taylor noted, “is that it attracts people to our City, providing exposure to our renowned food districts,” emphasising that the festival’s appeal contributes significantly to the local tourism industry and highlights Chatswood as a leading food and entertainment hub within Sydney.

“This vibrant festival embraces our rich and diverse population,” said Mayor Tanya Taylor, “providing an important opportunity to share stories and experiences in an exchange of cultural enrichment and greater understanding.”

As the festival continues to evolve, its impact on the local economy and community remains resoundingly positive. The fusion of cultural celebration and economic stimulus is a testament to the value it brings to the region.

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