Abstract

During 2012, the Colombian Ministry of Culture in partnership with EAN University, conducted a study on the economic, social and cultural impact of six Colombian festivals, managed to refine and strengthen a working methodology in an unprecedented way in Colombia, and perhaps internationally, highlighting that festivals like events, have huge economic implications as same as social and cultural. To analyse the management and sustainability strategies of festivals, the Modernization Model for Organizations (MMOGs) for cultural organizations was adapted. Using this method, the cultural and social value of events was analysed from multiple perspectives and ethnographic tools. As a result, it was concluded that cultural industries measured as services are the future level of foreign trade in the level of goods and services internationally, and to take advantage in this feature, remains important the government's support to the tourism sector, however, for self-reliance a sustainable management model is needed. Finally, in order to support an outreach strategy of the study, it was developed a virtual platform that interactively presents the most important results of the study, which complements the analytical paper. The article contains excerpts from the study by EAN University consultants in partnership with the Ministry of Culture