Local Economic Impacts of Popular Music Concerts

Gabe, Todd and Lisac, Nicholas (2013): Local Economic Impacts of Popular Music Concerts.

Abstract

This study examines the local economic impacts of popular music concerts held between 2010 and 2012 in Bangor, Maine. A regression analysis of the relationship between monthly taxable retail sales—e.g., restaurant and lodging sales—in the Bangor region and the number of attendees is used to estimate local spending per concertgoer on meals and accommodations. Results suggest that an estimated 29 to 31 percent of attendees spend the night in the local area, which is very similar to the share of concertgoers who travel more than two hours to attend shows. The local economic impacts of 41 popular music concerts—featuring artists such as Bob Dylan, Barenaked Ladies, Def Leppard, Jason Aldean, and Godsmack—between 2010 and 2012 is an estimated $30.7 million in output, a yearly average of 156 full-time and part-time jobs, and a combined $9.7 million in labor income.

• Item Type: MPRA Paper
• Language: English
• Keywords: Popular Music Concerts, Economic Impact Analysis, Taxable Retail Sales, Tourism
• Subjects: R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R15 - Econometric and Input-Output Models ; Other Models; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z11 - Economics of the Arts and Literature

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