AMDK say TAYLOR Swift Economy effect is not REAL, right Boss John?

[k1976]

https://sg.news.yahoo.com/finance/video/why-taylor-swift-economy-isnt-064021337.html

Why the Taylor Swift economy isn't real
Reuters Videos
Updated Thu, 27 June 2024 at 2:40 pm SGT


Why the Taylor Swift economy isn't realScroll back up to restore default view.
STORY: :: Balazs Koranyi, Chief ECB correspondent

"There has been a lot of hype about the massive benefits that the Taylor Swift concert tour will bring to Europe. But there's just one problem: 'Swiftonomics' is not real."

"I decided to do a case study in Stockholm. Stockholm is one of the places where Taylor Swift has already come through. The concerts were in May. We already have some real numbers.

And I thought Sweden would tell us if this benefit is actually there. And you know, there is a benefit.

Something like 180,000 people attended her three concerts in Stockholm, and that generated about 850 million Swedish crowns of revenue, that would be about $81 million."

 

[k1976]

That sounds like a lot of money, but it's actually not. Even for a fairly small city like Stockholm, that's not a huge benefit. It's a good weekend for Stockholm. It's an OK-ish weekend for Sweden."

"We looked at inflation as well. Sure, the tickets cost quite a bit. Hotel prices went up. But once you look at the whole country, and keep in mind Sweden is a small country, no impact at all.

And there's of course also a darker side of the economic impact, which is that all the profits made by Swift incorporated get repatriated to the United States.

So actually there's even a small drag for Europe because the money that is being generated in these concerts just get taken out of here. "

 

[k1976]

So then I thought, let's look at the broader picture, because surely it's not just concerts, we also have the Olympics coming up in Paris. We have Euro 2024, the European Football Championship, going on.

Big mega events which are all supposed to generate huge benefits for the people of Europe. I spoke to a bunch of economists and the conclusions seem to be the same everywhere."

 

[k1976]

At local levels, there might be a positive impact from a Taylor Swift concert from other mega events, but when you look at the total economy, you really need to look through a magnifying glass in order to see a significant impact on economic activity and inflation."

"To have a meaningful impact on an economy, what you would need is new money to be brought in, and in this case, it's not new money. It's people deciding how to spend their money."

"People visiting a Taylor Swift concert or going to the Euro 24 or going to the Olympics, they will not be able to spend the money later on.

So yes, there might be a very short lived, very brief positive economic impact, but over an entire year it is hardly measurable."

 

[k1976]

https://asia.nikkei.com/Economy/Tay...gapore on Thursday,concerts in the city-state.


ECONOMY

Taylor Swift buoys Singapore GDP to 2.7% Q1 growth​

City-state basks in concert tourism glow but export expansion continues to slide

Taylor Swift fans sing outside National Stadium ahead of a concert in Singapore on March 8. The American superstar made Singapore her only Southeast Asian stop on her global tour. (Source photos by Reuters)
DYLAN LOH, Nikkei staff writerMay 23, 2024 10:31 JST


SINGAPORE -- Singapore on Thursday reported year-on-year growth of 2.7% for the first quarter of this year, with the figure coming in exactly as forecast thanks to a hot tourism sector ignited by American pop star Taylor Swift's concerts in the city-state.
The latest growth spurt topped the 2.2% expansion in the final quarter of last year, with official data showing that the Southeast Asian financial hub's services-producing industries grew 3.9% on the year from January through March, up from 2% the previous quarter.

 

[k1976]

https://fortune.com/asia/2024/05/23...e-q1-2024-gdp-growth-tourism-travel-spending/

Taylor Swift and Coldplay concerts may have saved Singapore’s economy from shrinking last quarter​

BYLIONEL LIM
May 23, 2024 at 4:35 PM GMT+8

Singapore banked on high-profile events from superstars like Taylor Swift to jump-start its services sector.
ASHOK KUMAR—TAS24/GETTY IMAGES
“Swiftonomics” could have helped drag Singapore’s economy across the finish line. The Southeast Asian country banked on several high-profile events—most notably concerts by superstar Taylor Swift—to jump-start tourism spending.

On Thursday, Singapore’s government unveiled the country’s GDP growth numbers for the first quarter of the year, giving an initial indication of whether the strategy paid off.

 

[Semaj2357]

At local levels, there might be a positive impact from a Taylor Swift concert from other mega events, but when you look at the total economy, you really need to look through a magnifying glass in order to see a significant impact on economic activity and inflation."

"To have a meaningful impact on an economy, what you would need is new money to be brought in, and in this case, it's not new money. It's people deciding how to spend their money."

"People visiting a Taylor Swift concert or going to the Euro 24 or going to the Olympics, they will not be able to spend the money later on.

So yes, there might be a very short lived, very brief positive economic impact, but over an entire year it is hardly measurable."

not really; spending from those overseas coming for the concert adds a fillip to the economy, if it's not new money, then what is?
the add-on / multiplier effects to the f&b, retail, hotel, transport, airline, chicken industries etc is attributed to tourism spending for that quarters' results.

“Swiftonomics” could have helped drag Singapore’s economy across the finish line. The Southeast Asian country banked on several high-profile events—most notably concerts by superstar Taylor Swift—to jump-start tourism spending.

 

[steffychun]

She turned people woke and demenred like Biden.

 

[Hypocrite-The]

Nothing beneficial to the economy as no structural improvement...no economic development etc....just a sugar hit....only pap will promote it as economically good etc