Economic Impact of Toronto’s Scotiabank Nuit Blanche

By Vahida Badat, Section Editor

It was a “Sleepless Night” in Toronto as art-lovers took to the streets in search of exhibitions throughout the city. On October 2nd, 2010, Scotiabank Nuit Blanche marked its fifth year anniversary hosting the event. Visitors were given 12 hours, from sunset to sunrise, to view the 130 contemporary art projects.

Photo credit: torontoist.com

Scotiabank Nuit Blanche visitors getting interactive with Miles Storey’s Aurora.

Alongside the many Torontonians that have been coming out to the free event, are tourists as well. According to the Scotiabank Nuit Blanche Web site, in 2009, the event attracted 100,000 tourists, generating $18 million dollars in revenue for local businesses. That is an increase of 24% in revenues in comparison to the previous year’s local economic impact figure of $16.7 million.

It is mentioned that this increase may be due to the rise in tourists who have been travelling longer distances and opting to stay overnight at hotels. The next Scotiabank Nuit Blanche is scheduled to be held on October 1st, 2011.

To experience what has been attracting tourists and residents alike to Nuit Blanche, preview the video below.