We need to establish if the money spent in Dublin this weekend is 'new money' or cash which would have spent elsewhere in the economy
Analysis: We need to establish if the money spent in Dublin this weekend is 'new money' or cash which would have spent elsewhere in the economy
We need your consent to load this comcast-player contentWe use comcast-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage PreferencesSwift’s earning power, together with her massive fanbase, has resulted in media coverage that goes beyond her cultural and news impact into the realm of economics.
From RTÉ Radio 1's Oliver Callan Show, writer Amy O'Connor take a deep dive into Taylor Swift's business success We also need to examine tourist spending. If someone is coming to Dublin from abroad to go to the concerts, you might think that this has to be ‘new money’ and a boost to the economy. However, there is likely a crowding out effect from the concerts, whereby many people who would have spent money in Dublin this weekend, now avoid the capital because of the concerts.
For example, GAA fans attending the quarter finals in Croke Park or people going to the Pride parade may not stay in town for the night because it is too crowded, or hotel rooms are too expensive. Therefore, a significant portion of the tourist spending, rather than being new, is simply replacing spending that would have happened had the concerts not been on.
Brainstorm Business Economics Irish Research Council Taylor Swift TU Dublin
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