I’ve been reading articles saying how Taylor Swift contributes $x amount to the economy when she holds her concert in a particular city. Obviously you have ticket sales and merchandise, which is easy to track. But do they also take into account the other ways the economy is stimulated, such as hotels, restaurants, tourist attractions etc? And if they do consider these costs, how would these be calculated? It’s not as though fans register when they attend restaurants etc, and airlines don’t ask if you’re going to the concert when you fly. So do they just pick an average cost per attendee and then multiply by the number of attendees?
In: Economics
A quick and easy way is to check for tax remittance. I’m gonna assume tax remittances reports are done quarterly, and that these establishments file their taxes properly (or at least proportionally).
So if the state notices that they earned X% more tax this quarter compared to the previous quarter (or compared to the previous year) by a significant margin, add in some more fancy math and economics, they can estimate the % in these specific industries (hotel, ticket sales, merch, food, transportation, etc) were caused by Taylor Swift.
Latest Answers