Revenue for the city of Philadelphia will exceed over $500 million according to the World Meeting of Families. This will benefit local businesses, restaurants, and hotels immensely. Similar impacts are also expected in New York City and Washington DC as well.
During his visit to the United States, the pope commented on several issues, commending President Obama's initiative for global climate change, but also asking for more religious tolerance and the elimination of abortion. Pope Francis definitely sounds in agreement with some liberal policies as well, including relief and helping the poor strongly. He also emphasized not partaking in the "idolatry of money" in the American society. In other words, as Professor Skosples has said in class, about firms and individuals doing things for profit and their best self-interest, Pope Francis, instead, wants the motif to not be profit first, but the betterment of all people and societies.
http://www.ibtimes.com/pope-visit-2015-economic-impact-papal-visit-2093924
3 comments:
I feel as if the pope is like a temporary cultural icon and in that way he provides tourism which is certainly a way for regions to get a boost in economic actvity. In fact as a tourist attraction, the pope functions as a global force for regional and economic development. There have actually been studies on the effect that the popes visit may have on certain parts of the worlds development, especially the 3rd world.
I am curious to see how much profit local businesses actually see once the Pope leaves. While I think that it is great that the Pope is spreading messages for the betterment of mankind, I don't think that firms will ever truly adopt the same values. I believe it will be up to the people to hold firms accountable for social issues. While some firms will be able to embrace social justice values, most firms will continue to operate on the ultimate goal of profit for now.
I agree with what Sarim is saying. Having the Pope come into your city will boost economic activity instantly. So many people come to see him so he creates a revenue boom. Although, it is said that the city takes on heavy expenses when the Pope comes, but overall he definitely creates an economic boom.
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