Research Shows: EXIT Has Brought Over €220 Million to the Serbian Economy!

EXIT Festival 2022 brought another €19.7 million to the economy of Novi Sad and Serbia, bringing the festival’s total historical contribution to over €220 million.

10. November 2022. — Author: EXIT

This was shown in the research by “TIM Centar” from Novi Sad, which is conducted every year during the festival, surveying visitors from Serbia, the region, and the world.

The increased economic contribution compared to the previous year, when it amounted to €18.8 million, is the result of an increase in several key parameters, including record spending and visitation numbers from tourists from abroad. The EXIT festival also contributes to Novi Sad and Serbia through international promotion, which many experts consider invaluable. One such expert is a journalist from the prestigious economic magazine “The Economist,“ who said that if Serbia invested its entire budget in PR, it would not achieve what Novak Djokovic and EXIT did for its image.

This has been confirmed again by the results of this year’s research, according to which most respondents believe that EXIT, along with Novak Djokovic, is the most famous Serbian brand. As many as 89.8% of respondents believe that EXIT has a positive effect on Serbia’s global image, while an incredible 97.8% of respondents stated that their opinion of Novi Sad improved or remained the same after visiting the festival!

In July 2022, more than 200.000 visitors from 107 countries passed through the festival gates, with the most foreign guests coming from Germany, the UK, Turkey, Hungary, and France, while visitors from Slovenia, Bosnia and Herzegovina and Croatia are most numerous when it comes to the region.  As many as 91% of visitors came to Novi Sad because of EXIT, which proves the festival’s direct positive impact on tourism and the image of Novi Sad and the whole of Serbia. During the festival, visitors spent an average of €549 in Novi Sad and Serbia, a 22% increase compared to the previous year. Tourists from Western Europe spent an average of €821, and those from Eastern Europe spent an average of €720. 

The number of non-Serbian visitors is even higher than last year, making up 65.4% of this year’s audience, a new all-time festival record. EXIT is visited by more fans from Western Europe (21%) than from Eastern Europe (12.5%); the number of visitors from the region is traditionally high – 24%, 7.8% of visitors came from other continents, and 71.5% paid for accommodation.

The percentage of new visitors has continued to increase; there were as many as 50.7% among the respondents this year. There were also 38% of new visitors from Serbia this year. The fact that 97.8% of respondents stated that their impression of Novi Sad improved or remained the same after visiting the festival is also impressive.

The average age of the visitors who participated in the survey was 25.7, a slight decrease compared to the previous year (26.1). Highly educated visitors, including students, made up 77% of the audience. Students made 35% and 58% of visitors were employed. As many as 75% of respondents believe that music festivals can create social change. This year’s edition had a particular focus on mental health, so messages of support and empowerment could be seen all over the Petrovaradin Fortress. This is particularly significant considering that the survey results show that 86% of respondents declared that EXIT positively affected their mental health.

The research was conducted by “TIM Centar” from Novi Sad on a representative sample of 1,350 visitors throughout the festival’s duration. Only visitors who bought tickets were surveyed, while performers, workers, media representatives, sponsors, and institutions were excluded from the research.