Co-creating value: the events sustainability index for a rural case

Purpose This study tests a synthetic, multistakeholder framework for evaluating the sustainability of music festivals, fine-tuning it to rural settings, overcoming the traditionally accepted treatment of economic, sociocultural and environmental impacts separately to provide a synthetic contextualized and commensurable score. Design/methodology/approach Building on the triple bottom line and creating shared value perspectives, the framework integrates heterogeneous indicators into a single index which normalizes data for commensurability, incorporates both captured and uncaptured value, and applies stakeholder-informed weighting aligned with locally prioritized sustainability development goals (SDGs). Operationalized through a Plan-Do-Check-Act cycle, the method was piloted in the AlpakaFest, volunteer-driven cultural festival set as a Regional Social Observation Lab in Hacinas (Spain), combining resident (N = 64) and participant (N = 470) surveys, expenditure data and carbon footprint analysis. Findings The framework successfully integrates economic, sociocultural and environmental data into a single Events Sustainability Index, capturing both tangible and intangible value. Its application to AlpakaFest highlights the strong sociocultural benefits of rural festivals while exposing trade-offs between economic gains and environmental impacts. Practical implications The approach equips organizers, policymakers and local stakeholders with a decision-support tool to benchmark festival impacts, identify sustainability trade-offs and embed continuous improvement into event governance. It also broadens the scope of event management research by demonstrating how small-scale, rural festivals can act as laboratories for sustainable development. Originality/value By synthesizing diverse impacts into a transparent, comparable index, this study advances beyond one-dimensional evaluations and responds to recent calls for frameworks that operationalize co-creation and shared value in rural event settings.