Coldplay concerts in Coimbra generated direct economic return of 36 ME

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The four concerts that the British band Coldplay held in May in the city of Coimbra generated a direct economic return of 36 million euros (ME), said today the mayor of Coimbra, José Manuel Silva.

“The Coldplay concerts projected Coimbra nationally and internationally and boosted turnover in Coimbra’s hotels and restaurants. For almost a week, Coimbra was a true capital of the country”, he sustained.

In his speech during the period before the agenda of the ordinary session of the Municipal Assembly of Coimbra, held this afternoon in the Convent of St. Francis, the mayor elected by the coalition Together We Are Coimbra (PSD, CDS-PP, We, Citizens!, PPM, Alliance, RIR and Volt) announced some of the results of the economic impact study produced by the Coimbra Business School / Coimbra Institute of Accounting and Administration (CBS / ISCAC).

According to the study, the four concerts of the band led by Chris Martin, on May 17, 18, 20 and 21, in the Estádio Cidade de Coimbra, originated a total expenditure of 36 ME, taking into account the average expenditure of 180.14 euros of the 200 thousand spectators.

The data used in the study focused on surveys in the vicinity of the concerts and also on the availability of forms (through QR-Code) at the city’s hotels, as well as data provided by the Sociedade Interbancária de Serviços (SIBS) and by UNICRE – Instituição Financeira de Crédito, SA (UNICRE).

A total of 229 questionnaires were validated, referring to 1,665 spectators, where seven questions made it possible to trace the profile of the spectators, both in terms of age and geographical origin, as well as the amount and type of consumption they intended to make, namely in terms of lodging and restaurants.

Regarding the number of spectators, both in absolute and relative terms, the study concludes that “spectators spent an average of 180.14 euros.

There was “some variability depending on the district of provenance, with a minimum of 107.94 euros for viewers in the district of Coimbra and 349.55 euros for viewers from the district of Bragança, which is easily explained by the geographical distance.

According to the study, “the spectators who stayed overnight spent more than twice as much as the spectators who did not stay overnight.

As for the “use of restaurant services”, it was found that “spectators who use restaurant services spend 55% more than those who do not use these services”.

Through the analysis of the data provided by SIBS, it was concluded that “the number of operations on the SIBS network increased” by 20.52%, compared to the same week last year.

As for UNICRE’s figures, “the increase observed in the week of the concerts, in relation to the same week in 2022, both in the number (15.63%) and in the volume of transactions made on the network (8.37%) should be noted.

“This increase was particularly significant in the hotel and restaurant sectors, respectively 34.64% and 52.94%, in terms of transaction volume,” the study points out.

 

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