TALKS over the future of the Bournemouth Air Festival are ongoing as the council seeks to plug a £44m budget shortfall.
Hoteliers, restauranteurs, event organisers and business people have met regularly with officers and BCP Council cabinet members to explore options.
However, financial pressures mean that BCP Council’s Three Towns Alliance leadership must look at new ways of sustainably financing the free event in future.
Discussions have focused on ways to make the festival more financially sustainable for the council, which previously said the event generates more than £30m for the local economy.
Council member for tourism, Cllr Millie Earl said: “Lots of opportunities are being studied and assessed.
“We are looking into different ideas to make the festival vibrant and interesting, working with stakeholders and partners to do so.
“In view of the financial pressures on the council and at a time when cost of living pressures continue to affect our everyday services and lives, it is right that we carry out this work and we are working hard with our partners in the community to do so.
“This is not just a question about the air festival, but what summer activities we want to see along our incredible stretch of coastline and three towns.”
Currently, there is a £44m shortfall in the 2024-25 council budget with the festival seen as a major event in the calendar for 2024.
It has traditionally been heavily subsidised by residents, this year by around £400,000.
Theo Iakimov, general manager of the sea-facing Hotel Miramar, said he felt the council needed to better scrutinise its own spending.
He told the Echo: “My only concern is the council are not looking at themselves and being more efficient in managing their funds.
“This is the one event that puts Bournemouth on the map, millions come for a reason and during the four days of the air festival our takings double. It’s huge for us and every business.
“If you’re running a business you look at where you can improve efficiency by decreasing costs and reinvesting. I feel the council is doing exactly the opposite, they’re looking at cutting events that bring money into the area instead of overfunded services.
“Maybe a two-day event is better than no event but the problem is once you lose it, you cannot get it back.”
A recommendation is hoped to go to cabinet in October. This year’s festival takes place from August 31 to September 3.
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