Raleigh officials deserve a pat on the back for deciding to cancel this year’s Raleigh Wide Open festival, saving at least $150,000. Yes, it’s a common-sense decision in tough economic times, but how often does a program get cancelled? Thus, let’s give a nod to the city. I’m not a fan of these types of festivals in the first place, so I’m hoping the event doesn’t return next year. For all the talk about the economic impact of these types of events, the reality is much different. Sure, some new money is infused into the marketplace, but for the most part, what happens is that people simply spend money at a festival that they would otherwise spend somewhere else. In other words, the merchants who benefit from the festival are the winners and the merchants whose customers diverted their cash to the festival are the losers. David Diaz, president and CEO of the Downtown Raleigh Alliance, put it best in the News & Observer:
Raleigh Wide Open fulfilled its mission, Diaz said.
“Some events run their course and have a certain lifespan,” he said.
The question is, what else can be cut?
