Concerts were the cornerstone for GDP growth

Concerts were the cornerstone for GDP growth

Recitals by artists such as Bad Bunny, Daddy Yankee, Grupo 5 and Armonía 10 contributed 0.73 percentage points to the final result of the economy during 2022.

In 2022 the peruvian economy it grew less than expected and was located at 2.68%; and despite the slowdown seen in recent months, the INEI pointed out that concerts and cultural events contributed more to the variation in GDP.

In detail, the category Other services contributed 0.73 percentage points (pp) in national activity as a result of the concerts foreign artists such as Bad Bunny, Daddy Yankee, Kiss, Coldplay, Abril Lavigne, Marc Anthony, Don Omar and Mike Bahía, among others.

Likewise, local groups such as Eva Ayllón, Agua Marina, Grupo 5 and Armonía 10 also stood out; entertainment events such as those of Carlos Galdós and Carlos Álvarez; plays and betting houses such as Betsson, Ganagol and Te Apuesto, added to the activities of sports clubs and theme parks.

It is worth noting that until November, the Sunat had already notified that the sale of food, drinks and promotional items in 21 concerts nationwide moved more than S / 7 million. Even after the Bad Bunny recitals, the public spent more than S/1 million more.

What other sectors contributed the most to GDP in 2022?

INEI adds that after Other services, Accommodation and restaurants (0.51 pp), Transportation and Storage (0.46 pp), Commerce (0.36 pp), Import duties and other taxes on products (0.31 pp) ), Agriculture (0.26 pp) and Construction (0.20 pp).

While the contribution was lower in Manufacturing (0.12 pp), Mining and Hydrocarbons (0.04 pp), and even in Fishing, Telecommunications and Financial and Insurance, the figures were negative.

Source: Larepublica

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