The Lincoln Christmas Market has had a steady up rise in profit and visitation between the years of 2014 and 2015.
The figures show that visitation for the 2015 market is in the region of £250,000 people over the four day event.
In accordance to the visitation figures rising, the total spending of visitors has being estimated at around £14 million, with this the economic value of the city was estimated around £2.65 million.
The University of Lincoln conducted a survey which stated that the average visitor spent £57 at the market last year, which is a £5 increase from 2014.
To fund the market, they have three main streams of income, stallholder fees, park and ride ticket sales and coach bookings. The fees and charges were set for the 2015 market in June of the same year.
The Performance Scrutiny Committee, under Lincoln City Council said: “the setting of these fees was determined on the basis of that… a minimum position of full costs recovery be achieved.
“This include[s] an eight per cent increase to stalls fees.”
Even though the fees for the stall holders was increased last year, their income from the 4 day event didn’t dwindle down. In 2015, income generated from the 198 stalls rose by £36,940 from the 2014 figures of £358,920.
This shows that the average stall holder saw an increase of £120, equating to £30 per day.
As well as the stall holders increase in profit, the Park and Ride, which used just over 9,000 vehicles, were affected in the same way with a £1,230 upturn.
The Committee continued to say: “the consistent use of Park and Ride… have continued to receive a consistent income over the last two years.”
The Lincoln Christmas Market has been going since 1982 with just 11 stalls in Castle Square, and it is now back in the city with the four day event starting on Thursday, December 1 at 12pm.
(Photo Credit: Niall Few)