The four concerts held by British band Coldplay in May in the city of Coimbra generated 36 million euros (ME) in direct economic income, Coimbra Mayor José Manuel Silva said on Thursday.
“Coldplay’s concerts have introduced Coimbra nationally and internationally and have increased turnover in hotels and restaurants in Coimbra. For almost a week, Coimbra was the real capital of the country,” he said.
In his speech before the agenda of the regular session of the Municipal Assembly of Coimbra, which took place this afternoon at the Convento São Francisco, the mayor elected by the Juntos Somos Coimbra coalition (PSD, CDS-PP, Nós, Cidadãos! , PPM, Aliança, RIR and Volt) announced some results of an economic impact study conducted by the Coimbra Business School/Instituto Superior de Contabilidade e Administração de Coimbra (CBS/ISCAC).
According to the study, the band’s four concerts led by Chris Martin on May 17, 18, 20 and 21 at the Cidade de Coimbra stadium resulted in a total expenditure of 36 ME, taking into account an average expenditure of EUR 180.14 per 200,000 spectators.
The data used in the study was based on surveys in the immediate vicinity of concerts and the availability of forms (via QR code) near hotels in the city, as well as data provided by the Sociedade Interbancária de Servicos (SIBS) and UNICRE – Credit Financial Institution , SA (UNICRE).
229 questionnaires were tested, referring to 1665 viewers, where seven questions allowed to delineate the profile of viewers in terms of both age and geographic origin, as well as the volume and type of consumption they intended to carry out, namely in terms of residence and recovery.
With regard to the number of viewers, both in absolute and relative terms, the study concludes that “viewers spent an average of 180.14 euros”.
There were “some differences depending on the area of origin: a minimum of €107.94 for viewers from the Coimbra area and €349.55 for viewers from the Bragança area, which is easily explained by geographical distance.”
According to the study, “viewers who stayed the night spent more than twice as much as viewers who didn’t stay the night.”
Regarding the “use of catering services”, it was found that “spectators who use catering services have a 55% higher expenditure level than those who do not use this type of service.”
Analyzing the data provided by SIBS, it was concluded that “the number of transactions in the SIBS network increased” by 20.52% compared to the same week of the previous year.
As for the UNICRE values, “there is an increase seen in the week of the concerts compared to the same week in 2022, both in the number (15.63%) and the volume of transactions carried out on the network (8.37% ).
“This growth was particularly strong in the hotel and restaurant sectors, respectively, at 34.64% and 52.94% in terms of transaction volume,” the study highlights.
Author: Portuguese
Source: CM Jornal
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