Fête des Vignerons publishes final loss of CHF 12m
The massive wine festival, the Fête des Vignerons, has published its final figures and shows a loss of CHF 12m.
The show was this time last year.
Organisers say they overestimated the number of visitors, daytime shows were less than 75% full and costs spiraled, coming in as much as 10% above budget.
The festival is held around every 20 years by the Vevey Winegrowers Guild and the results have left its accounts battered.
On Monday, canton Vaud says it will waive a CHF 2m bill for security, whilst other suppliers have also waived their costs.
But on the whole, the festival attracted visitors from across Europe and it contributed CHF 327m to the local economy.