According to the deputy mayor of Coimbra, Francisco Veiga, this show “It fits into the strategy of promoting and tourism valorization of the county “.
The financial support of 125 thousand euros – which adds 325 thousand euros in indirect support – was approved Monday afternoon by majority meeting of the Municipal Executive of Coimbra, with the votes in favor of the Coimbra Together coalition (PSD/CDS/NC/PPM/Alliance/RIR/VOLT) and votes against PS and CDU.
The municipality’s support to promoter Everything is new provides for direct financial support of 125 thousand eurosbesides exemptions regarding the use of the stadium (between May 19 and June 10), lawn replacement and irrigation systems, cleaning spaces, providing bays and railings, communication and promotion support, exemptions for noise licenses, makeshift room and occupation of public space, in a total value of 325 thousand euros.
It also proposes a close collaboration between municipal services, the prosecutor and the security and civil protection forces, in order to guarantee all logistics, operational and safety conditions for the event, which “If you expect you to attract thousands of visitors and have wide media coverage.”
According to the deputy mayor of Coimbra, Francisco Veiga, this show “fits the strategy of promoting and tourism valorization of the countyreinforcing the position of Coimbra in the organization and reception of large international events, with impact on the economy “contributing to “The projection, national and international of the territory”.
“These events are more than moments of mere fun, they are true engines with impact on tourism promotion, which tend to be a structuring drive on support to the restoration and hospitality sector, acting as catalysts of local and regional commerce. These events allow us to affirm Coimbra as an unavoidable reference in the national and European panorama, consolidating our position on the host of great live performances, with impact on the impact on the impact on the impact on the impact on Tourist attractiveness of the region, “he said.
Already the councilors of the PS, who voted against, stared that disagree “of the business model that has been adopted by the municipality.”
“In Coldplay, the financial support was 110 thousand euros per concert, now there are 125 thousand euros, but do not explain because if it reaches this value. Until the replacement of the lawn is in charge of the municipality,” said Regina Bento.
The socialist councilwoman also showed that it is “A highly commercial event that charges tickets between 80 and 150 euros”for 40 to 50 thousand places.
“We can project a gross revenue of more than four million euros, totally for the private entity and without any financial return to the municipality. It is a direct grant to a private operation,” he said.
Also CDU councilor Francisco Queirós voted against support, understanding that “it is not justifiable direct support so significant to a show production company, which dominates this business sector and would, even without any municipal financing, profits for the concert.”
“The CDU would understand how acceptable the support of the municipality to hold this event, as similar, if this support was embodied in exemptions of fees and other indirect supports,” he said.
Economic impact of Coldplay was 36 million euros
In May 2023, Coimbra City Stadium was the scene of four Coldplay concerts, also produced by Everything Is New.
On this occasion, The House supported the prosecutor with 440 thousand euros (110 thousand euros for each concert), as a counterpart for the selection, choice and promotion of the city of Coimbra and the city of Coimbra’s city to perform the concerts.
According to a study by Coimbra Business School/ISCAC, the It was “36 million euros, with an increase in 48% in hotel and 55% in restoration during the event”.
