The state's northern tourism body says it's not overly concerned about the impact Party in the Paddock not continuing will have on attracting younger people to region.
Organisers of Northern Tasmania's premier music festival announced on Tuesday that the 2020 event would be the last one.
In 2019, the three-day festival saw about 30 per cent of punters come from interstate, and 37 per cent come from the state's south. About 2.5 per cent of the festival crowd were from international places.
Tourism Northern Tasmania chief executive officer Chris Griffin said it was hard to say if there would be an impact on tourism numbers after the festival ceases.
"It's hard to say if there will be a substantive impact necessarily. It's a pity to see such a hallmark on our events calendar wrapping up, but we can get where they're coming from," he said.
"Reality is this event attracts a younger audience, of which we've been building up experiences for such as mountain biking."
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Mr Griffin said the event would be hard to replace, as events like Party in the Paddock were important to have.
"It's like any brand any where. The earlier you can start people having a relationship with you the better," he said.
"Because it's breaking that myth that Tasmania is for older travelers and events like this and Mona Foma present in a away that a broader demographic can have a relationship with Tassie and keep having that relationship."
Party in the Paddock organisers - Vibestown Productions - said the reason for ending the festival after eight years was to ensure the festival didn't become soulless and just another money-making experience.
"We've had to be really honest with ourselves about the amount of energy and passion that goes into making PITP special every year," they said on their Facebook page.
"As a team, we're ready to tackle new and exciting projects on the horizon.
"All things must at some point come to an end and we want the most special project of our lives, to go out on top.
"We believe that PITP is at the top of it's game and only the good die young."
Organisers say they will put on the 2020 PITP for the punters, also known as their friends.
"We're gonna snip fences to make room for every single person that's ever been to a Paddock."
The festival will be held from February 6 until 9 at White Hills.
Tickets are selling fast.
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