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The growth of events importance has become clearer for some time now, both at national and international level. They are elements of tourist attractiveness and entertainment that determine also an “important social impact on the hosting community because they contribute to the formation of a strong sense of belonging and a sense of place” . As Resciniti and Fortuna noted, “the basic principle is that value creation through events is strictly linked to the ability to involve people on the cognitive, emotional, sensorial level, giving them the possibility to live experiences based on their needs and wishes, coherently to their expectations. In particular, this research is a work in progress on the empirical case “Matera European Capital of Culture 2019”: it focuses on the local people involvement and the value created by the big event. A participative process can result more efficient and sustainable in the long term than a top down management. In this case, thanks to its election as “European Capital of Culture 2019”, Matera enhances its cultural value and moreover achieves a new model of territorial development.