A show with the greatest pop star of all time isn’t just a close-up and, for Rio de Janeiro (RJ), the singer will bring much more than just a show on Copacabana Beach, on May 4th: she will move the economy of the entire city, in accordance with the expectations of the City Hall.
The most anticipated event of the year for the LGBT+ community is expected to boost Rio’s economy by R$293.4 million, a value 30 times greater than the R$10 million invested by Rio City Hall in sponsorship. The data comes from the study “Potential Economic Impacts of the Madonna Show in Rio – 2024”, which takes into account public spending on food, transport, accommodation and air tickets.
The survey carried out by the Secretariat of Urban and Economic Development (SMDUE) in partnership with the Secretariat of Tourism (SMTUR) also showed that only with the extra collection of Service Tax (ISS) in the month of May, the amount applied will already be recovered. According to the organizers of the event, the estimated audience is at least one million people, including Rio residents and residents of the metropolitan region, national and foreign tourists. For the weekend of the show, there will be extra flights coming from several cities in Brazil, in addition to an increase in passengers at the bus station, as well as strong hotel occupancy. In some neighborhoods, such as Copacabana, where the show takes place, occupancy is expected to be close to 100%.
“Rio continues to be on the international agenda of major events, which directly impacts the city’s economy. In 2023, the result was significant, with many locals and tourists taking advantage of the intense calendar of cultural and business events. 2024 will be no different, so we expect great movement in the economy and the continued positive impact of the sector”, highlights the Secretary of Urban and Economic Development of Rio, Chicão Bulhões.
City Hall research estimated an increase in service tax (ISS) collection of 20%, compared to May 2023, from activities related to the show, such as tourism, events, municipal transport, airport and road sectors, in addition to transportation services. artists, who are greatly positively impacted by major events.
As a result, it is expected that in May 2024 the ISS collection from these sectors will be R$60.9 million, an increase of R$10.2 million compared to the same month of the previous year.
Source: Maxima
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