Happy New Year Everyone!
This year I spend my New Year’s Eve 2012 in Sydney, witnessing the spectacular Sydney Harbour fireworks. It was a truly amazing experience, despite the 12 hours wait for a good spot of the show.
After arriving home yesterday, I had a funny incident with my landlord commenting on the fact that I was so amazed by my experience in Sydney. What she confronted me with was a 6.3 million large figure representing the coast of the fireworks in Sydney, and whether or not I found 12 min of fireworks worth that large amount of money. I gladly answered that it was all worth it, to her surprise. We did not discuss it further. However it made me start wondering.
I knew what I had spent in Sydney for the four days I was there, and just with simple math I quickly realized that the 6.3 million was not such a bad investment. Just with some rough estimates I could easily disprove my landlord’s position.
It had wakened my attention and I had to research the actual figures of the event. The official figures indicate that the 6.3 million fireworks had put 156 million dollar into the local economy and on average a total cost of 4 dollar per spectator. This means that 1.575,000 people saw the show. In Australia the corporate income tax is flat 30% which means that the government has earned an estimate of 46.8 million dollar, deducting the 6.3, equal to 40.5 million dollar in tax revenue. (These estimates due not consider speculations or other forms of avoiding taxes.) However the numbers speak for them self.
Was the 6.3 million dollar fireworks show worth the money? Yes it was all worth it!