If you want to attract people to your events over the competitions, look to V Fest for a bit of inspiration, as the event has just been named the best value summer music festival in the UK.

Analysis from Vouchercodes.co.uk compared the cost of seeing nine festival headline acts in concert with the price of a weekend festival ticket to see which event would offer the best value for revellers.

It was found that going to V Festival would save people £246.27 compared to going to see nine of the headline acts in concert each. Those going to Glastonbury would save themselves £219.93, while people heading to the Isle of Wight festival would save £185.73. Download partiers would save £180.50, T in the Park festival-goers would save £155.63 and Lovebox revellers would save £122.83. Reading and Leeds festival-goers, meanwhile, would only save themselves £88.71.

“Despite the fact that most festivals have been hiking up their ticket prices year on year, on the whole festivals still offer great value for money with many of the world’s biggest artists performing over the summer. European festivals are also a good value option,” lifestyle editor of Vouchercodes.co.uk Anita Naik said.

Further research from American Express recently revealed that the average amount people will spend on festivals in 12 months has now reached £419, with Londoners spending the most at £735. Men are bigger spendthrifts, forking out £522 on average, compared with women who are looking to spend £281.

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