Glastonbury Festival has been hailed for its significant economic contribution to Somerset. According to a new report, the festival generated £32 million in income for local businesses in the past year.

Commissioned by festival organisers, the study conducted by Fourth Street research specialists explored Glastonbury's economic impact within Somerset and the wider UK in 2023.

The festival was found to have injected approximately £168 million into UK businesses, supporting over 1,100 jobs, 325 of which were in Somerset.

Organisers disclosed spending of around £62 million to bring the 2023 festival to life, benefiting 922 organisations across the board. Of this, nearly £12 million went to 258 Somerset companies.

The research outlined the festival's broader economic footprint, derived from surveys among 643 attendees, 354 staff members, and 148 volunteers and complemented by 30 phone interviews with local businesses.

Festival-goers alone contributed £1.6 million to Somerset's wider community, with a quarter of this expenditure on local food and drink services. Retail shops and supermarkets also benefited, receiving half of the spend on various provisions.

The report highlighted the accommodation sector's gain, with approximately 900 visitors opting for local hotels and B&Bs, amounting to £450,000. Neighbouring landowners hosting around 4,000 people in alternative camping sites or accommodations brought in an estimated £6.5 million.

In addition, Glastonbury's crew members channelled about £900,000 into local businesses outside the festival premises.

The event, supported by 10,000 volunteers, saw an estimated additional spend of £500,000.

A festival spokesperson said: "Since it began as a small-scale event on a dairy farm in 1970, Glastonbury has become one of the world's biggest festivals.

"In 2023, more than 140,000 ticket-holders enjoyed entertainment at over 100 stages across five days, in the heart of Somerset.

"Celebrating diversity in culture, Glastonbury has become a place of joy and discovery for attendees, but the festival has also proven to have a positive influence beyond the arts."

With 918 trading stalls at the 2023 festival, the market trade saw a significant uplift, especially the 56 food and drink units catering to the crew, all manned by independent businesses.

Glastonbury Festival contributed over £3.7 million to various charities last year. Fundraising activities, including a raffle and an online auction, further supported causes such as the Syria-Türkiye earthquake response and the Trussell Trust food bank charity.

Moreover, the festival's community investments included the construction of 52 social housing homes in Pilton, upgrades to the village playing fields, and the restoration of historic local sites.

The festival will return in June 2024 with headliners Dua Lipa, Coldplay and SZA.