The Edinburgh Festivals had a net economic impact of £558m during 2025 (source). The vast majority is generated, not by the events themselves, but in sectors such as accommodation, food and drink, shopping and tourism - raising important questions about who benefits, and who decides how much of this wealth stays in communities.

In Feb 2027, as part of Reclaim the Economy Week, join Osbert Lancaster of Thrivable Scotland for a facilitated discussion in the spirit of celebration of what has already been achieved, and curiosity for what else might be possible.

Through the lens of a wellbeing economy and community wealth building – keeping more spending local, supporting fair work and increasing community ownership – together we'll explore what becomes possible when we think of Festivals not only as cultural celebrations and economic drivers, but as opportunities to build an economy that serves people, place and planet.

We’ll consider who owns and controls festival venues, how decisions are made about spending and suppliers, and how residents, workers and community groups can have more say in shaping the Festivals and sharing in their benefits.

Together, we’ll explore:

• Who decides? Who shapes decisions about the Festivals, and how could residents, workers and community groups have more say?

• Who benefits? How could festival spending support more fair work, more local businesses and stronger communities?

• What do we value? Beyond the money generated, how could the Festivals contribute to wellbeing, creativity, belonging and help regenerate the natural environment?

• What next? Is there an appetite for change? Who else should be part of this conversation? If we want the Edinburgh Festivals to build Edinburgh’s community wealth, what should our next steps be?

Through the session, we hope to identify a small number of shared priorities and potential collaborations, and will circulate a short summary afterwards.

This Feb 2027 event will be facilitated by Osbert Lancaster of Thrivable Scotland and supported by WEAll Scotland.

Get involved now and help shape the event!

This invitation is extended to organisations and people from across Edinburgh, including residents and community groups, artists and festival workers, local businesses, festival organisers and public bodies. You don’t need any economics expertise — your experiences and ideas are what matter.

Whether you’d like to help shape or support the event, share your story or experience, or offer a venue, we’d love to hear from you.

If you’re interested in being part of the conversation, helping bring people together, or supporting what might emerge, please contact Osbert Lancaster in the first instance.

Together, we can explore how to reclaim economic power and build an Edinburgh economy that works better for people, place and planet.

At its core, community wealth building flips the script on traditional top-down economic models. Instead of wealth flowing out of local areas to distant shareholders, this approach focuses on keeping wealth circulating within communities, creating better jobs locally, and supporting businesses that are rooted in place.

The Bill encourages councils and public bodies to work with their communities to generate, circulate, and retain prosperity right where people live and work. / Lisa Hough-Stewart, Director, WEAll Scotland, on the Community Wealth Building (Scotland) Bill