The artistic and cultural activities have not only a key cultural and social value, but also an undeniable economic impact. Indeed, it is a fact that the cultural sector represents a productive branch that is growing in importance. The cultural factor is frequently used as a key element for regional and/or economic development. The article is based on methodology in two stages: first, through estimating private spending generated by the event's cultural tourism; and second, through calculating the overall economic impact, including the private spending on cultural consumption, public spending directly related to the cultural programme, investment in new equipment and facilities, along with the estimate of the multiplying effects on the overall regional and national economies.