The festival held in Sopron, in north-western Hungary, is a “real love brand”, Tamas Kadar, managing director of Sziget and VOLT, said in a statement. But even this year’s event needed significant cost cuts to go ahead, he added.
“In the uncertain economic situation, we are currently unable to organise VOLT to the same standard as you have become accustomed to,” he said.
Organisers said they hoped that an improvement in the economy will allow them to stage the festival in the future again.
The statement cited Sopron Mayor Ciprian Farkas as saying that the city’s leadership accepted the organisers’ decision. Sopron has always been welcoming of the event and trusts that it will again be able to host the festival once the current difficult period was over, he said.