36th Cordoba Guitar Festival: Spectator Analysis Using Structural Equation Modelling (SEM)

Abstract

The Cordoba Guitar Festival is one of the most important cultural events in Spain. This article analyses the musical preferences, satisfaction, attitudinal loyalty, and behavioural loyalty of spectators who attended the 36th festival held in July 2016, as well as the festival’s economic impact on the city. These characteristics of the public give rise to the four hypotheses of this study. To achieve this aim, a structural equation model (SEM) was used. The results −χ2 = 27.79, with the p-value found to be p = P (χ2 ≥ 27.79) = 0.224—show the goodness-of-fit of the model and indicate that the observed data do fit the expected dataset. The results therefore allow us to accept the proposed hypotheses concerning the influence of different latent factors, such as musical preferences, loyalty, and satisfaction with the festival. This is the main focus with which the present study has been written. Regarding the economic impact, the Festival raised 1.2 million euros, that is, slightly more than 73,000 euros per day. The amount, although not very high, is important as additional income for the city. The conclusions show the need to consider the preferences of the spectator as an essential tool to enable the continuation and longevity of the Cordoba Guitar Festival—an important cultural destination.