For five decades it has attracted famous faces including actress Whoopi Goldberg, presenter Sir David Attenborough and journalist Emily Maitlis.

But the Edinburgh TV Festival will be staged in the capital for the last time this year in response to ‘rising costs for both organisers and attendees’.

Bosses said the event will move to Manchester next year, allowing them to ‘radically reduce the costs’.

Murdo Fraser, Scottish Conservative culture spokesman, said: ‘It’s a great pity to see the departure of a major event that has brought attention and funding to the city.

‘But SNP legislation – particularly on short-term lets and the visitor levy – has made Edinburgh the most expensive city in Europe and the organisers clearly feel that the cost and difficulty of staging the festival has become prohibitive.’ 

The decision to relocate follows a competitive bidding process that was launched last year.

Organisers said Greater Manchester’s ‘successful and comprehensive bid included commitments around affordability, infrastructure, industry partnership and long-term growth potential’. 

They now plan to hold the festival, which was launched in Edinburgh in 1976, in the English city’s St John’s creative and cultural district.

Fatima Salaria, chairman of the festival board, said: ‘This was never a decision about wanting to leave Edinburgh.

‘But this decision had to balance legacy with future opportunity.’

Edinburgh City Council leader Jane Meagher said she was ‘disappointed’ by the decision ‘but rightly proud of the role that Edinburgh has played in hosting the TV Festival over the past 50 years’.

Culture Secretary Màiri McAllan said the Scottish Government had worked with the council and other partners ‘to keep the festival here’.

When Edinburgh hosts the event for the last time this summer it is expected to include more than 60 keynote speakers, in addition to debates and masterclasses.