04/13/2024 – 21:17
North American singer Madonna's show on Copacabana Beach is expected to generate R$293.4 million in Rio's economy, according to an estimate released by Rio de Janeiro City Hall. The bill considers public spending on food, transportation, accommodation and airfare. The expectation is that the free show will bring together a crowd of people, on May 4th, on the waterfront in the south of the capital of Rio de Janeiro.
“According to the organizers of the event, the estimated audience is at least 1 million people, including Rio residents and residents of the metropolitan region, national and foreign tourists. For the weekend of the show, there will be many extra flights, coming from several cities in Brazil, in addition to the increase in passengers at the bus station, as well as a strong hotel occupancy. In some neighborhoods, such as Copacabana, the location of the show, occupancy should be close to 100%”, pointed out the City Hall, in a press release.
The City Hall is providing R$10 million in sponsorship for the event. The study with estimates on the return on investments – carried out by the Secretariat of Urban and Economic Development (SMDUE), in partnership with the Secretariat of Tourism (SMTUR) – would also have pointed out that the extra collection of Service Tax (ISS) in the month of May will be enough to recover the contribution of public resources.
The projection is for a 20% increase in ISS collection in May 2024 compared to May 2023 from activities related to the show, such as tourism, events, municipal transport, airport and road sectors, in addition to artist services.
The amount collected from these sectors would total R$60.9 million in the month, which would mean R$10.2 million more than the result of May last year.
“Based on data from the event organization, compiled by SMTUR, the international media exposure of Madonna's show in Rio, after the official announcement, reached US$43.9 million in advertising terms – the equivalent of R$217.6 million (more than 20 times City Hall’s investment). This means that the City of Rio, if it carried out an advertising campaign in the international press, would have to spend more than R$ 200 million, achieved, spontaneously, with the officialization of the show”, argues the note from the City of Rio.
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