A study conducted by the BC Association of Farmers’ Markets (BCAFM) and the University of Northern British Columbia (UNBC), revealed that BC's farmers' markets had an astounding $233 million economic impact in 2023.
The study showcases the vibrant growth of farmers' markets across BC, highlighting the increasing number of markets, vendors, market days, and shopper attendance.
Direct sales at these markets soared to $155 million, emphasizing the significant role these markets play in bolstering the provincial economy. Heather O’Hara, Executive Director of BCAFM, attributed this success to a surge in shopper spending, the expansion of market operations, and an enriching variety of vendors.
The annual attendance leaped to 5 million visits in 2023, with a considerable portion of visitors being tourists and day-trippers, further solidifying farmers' markets as crucial to local tourism and community engagement.
The study not only measured the direct sales but also underlined the broader economic ripple effect of farmers' markets on adjacent local businesses.
With $119 million in direct sales reported by neighbouring businesses, it's clear that farmers' markets serve as vital anchors for local commerce, driving foot traffic and consumer spending throughout the surrounding areas.
Dr. David Connell, the lead researcher, highlighted the significance of comparing current data with previous studies, offering a comprehensive view of the evolving economic impacts of farmers’ markets on BC’s economy.
The findings demonstrate the markets' pivotal role as community hubs, small business incubators, and sustainable food sources.
With an ambitious team covering over 18,000 kilometers to collect data from more than 70 farmers’ markets, the study's comprehensive approach sheds light on key trends. For instance, larger markets with more vendors generate higher economic impacts, benefiting the entire community.
Additionally, the study identified farmers' markets as growing tourist attractions, contributing to the vibrancy and sustainability of both urban and rural areas in BC.
BCAFM, a non-profit dedicated to promoting and supporting farmers’ markets across the province, underscores the vital contribution of these markets to local food systems and economies.