Armenia can't calculate profits from Jennifer Lopez's concert

The Armenian Finance Ministry has not calculated how much revenue the state budget might receive from Jennifer Lopez’s recent concert in Yerevan.

The ministry said in a statement to Sputnik Armenia that the potential impact of this and similar events on macroeconomic indicators and budget revenues can only be observed after a certain time lag, typically at least one to two months, due to data collection and processing, as reported by Caliber.Az.

“Even with such a time lag, it is impossible at the macroeconomic level to give a precise estimate of the impact of a single event, as macroeconomic indicators aggregate a large number of micro-level events. Factors with positive and negative effects may cancel each other out,” the ministry noted.

The Finance Ministry emphasised that the influence of individual cultural or other events falls outside the scope of macroeconomic analysis, which is why no assessment of the economic or budgetary impact of the concert has been made.

The ministry suggested that the Armenian State Revenue Committee, which collects and analyzes data more frequently — even on a daily basis — might have the technical capability to conduct such an assessment.

Lopez’s tour included concerts in Kazakhstan, Armenia, and Uzbekistan. Official figures show that concerts in Astana and Almaty generated $1.6 million in budget revenues, while the Tashkent performance contributed $3.3 million in taxes. In contrast, Armenian authorities allocated $6 million from the state budget to host the event, whereas Kazakhstan and Uzbekistan reportedly did not spend public funds.

By Khagan Isayev