Can someone correct me if I'm being innumerate here but is this story suggesting that 1/1600th of the entire UK economy is ABBA Voyage-related? (And I'll be honest given the state of the economy, maybe it is!)
Reposted from
Mayor of London, Sadiq Khan
ABBA Voyage is proving to be more than just a show—it's an economic powerhouse, bringing millions to Stratford and boosting jobs. A shining example of how our support for culture and creativity drives growth across London.
Comments
But more importantly this assumes no displacement, which is implausible (although less so for the foreign visitors, where there clearly is some genuine additionality)
I spend all my money sooner or later. So is the benefit of things like ABBA Voyage to do with the accelerated rate of circulation of money?
10% of that is 250 billion pounds
1% is 25 billion
0.1% [1 in 1,000 ] is 2.5 billion
so the ABB voyage thing would have to total, everything, side effects, etc, about roughly 3 billion pounds ??
Money money money,
Something’s funny
In statistics-world
💃💃💃🪩🪩🪩🕺🕺🕺
Its from a survey of attendees so "your mileage may vary".
About 10% of UK GDP is "imputed rent" - the imaginary rent owner-occupiers pay themselves to live in their own houses.
https://www.taxresearch.org.uk/Blog/2023/02/14/10-or-gdp-is-made-up-it-simply-does-not-exist-in-the-real-world/
a) I'm not sure this money is fully 'in the London economy' - quite a lot presumably goes to Abba members as royalties etc.?
b) This also assumes the non ticket money is additional - ie people coming to London just for Abba....
I’ve never understood why we haven’t fought back with Brotherhood of Man or Buck’s Fizz instead of hosting forrin.
Buy British!