Polo Activity in Wellington Assignment Example | Topics and Well Written Essays - 1000 words

Polo Activity in Wellington - Assignment ExampleOn the other hand, the National Horse Show brings in another $8.5 million which further highlights the importance of these three events not only in the tourism and also the real estate and other services industry in Wellington (Palm Beach County Club 1).The discussed origin of how Wellington becomes synonymous with polo shows that the economy has straightway and indirectly invested in this revenue generating activities. Before the height of its popularity, initial coronation has amounted more than just monetary but intensive and extensive marketing campaigns in order to promote these activities. Currently, these initial investments are being continued through the form of expenses in order to finance taking care of horses which are utilize for the race. Economic Research Associates estimates that Palm County Beach Equestrian residents are pouring in $121 million each year for the care of their 11,000 horses (Gasset and Gasset 5). W ith the vibrant outlook for the polo events in Wellington together with the expected increase in the GDP of the community, induced investments are also projected in the medium term. Among this is Mark Bellissimos plan of the devising the showground in Wellington part of a multi-billion dollar 140 acre show facility with varied year round Equestrian events (Gasset 3) adding that he wants to make this the pith of The Equestrian Universe (Gasset 3). The magnitude of how these investments in ensuring that these polo events will be as exciting, prestigious, and attractive to tourists and fans together with the revenue generated by the events back tooth be measured by looking at these at an economic standpoint. It should be noted that the investments poured in as well as revenues generated are magnified when taken into account how these are used and passed on to the different economic players in the community. Economically speaking, the total amount of revenue and investment brought in Wellington by polo should be calculate by Keynes multiplier in order to really calculate how much wealth it created for the community (Brue and McConnel 225). In the case of Wellington, the huge number of fans which devote their cadence and money in watching the tournaments do not only shore in direct income but promoted the creation and development of vibrant service, real estate, and tourism industries which gives livelihood and revenue to Wellington. The role of investments in pump priming the economy can be illustrated by the plans of making the community an even more develop venue for polo events. For instance, when Mark Bellissimo finally puts into practice his plan of renovating the Wellington showground, we assume that this will be in an amount of $1 billion for simplicity. This amount of investment will be used to finance the sourcing of input, payment for labor, machinery, and other necessities. Thus, this $1 billion is passed on to these economic players in forms of p ayments, salaries, and wages. As a result, they will suffer a higher disposable income which they can spend for the purchase of goods and services. On the other hands, goods and other service providers will have higher revenue where they can use in order to produce more of their products. This process of wealth creation goes on and on.As an example, this paper will look at how investment creates