If you want to increase traffic and boost the economy in your local town, then an easy invitation is through international film productions. Through this, you can get the movie gurus and producers into one area to enjoy the scenery and to show your area on film, while stimulating the economy. The different perspectives that help to change the economy with video production is the beginning to finding the right angle to any community.
The concept of having international film productions are continuing to increase to help communities that are interested in entertainment. This is a known change that is coming with the invitation to have films in various areas filmed in global arenas. The more these are produced, the more they are expected to assist with cultural, social and economic development. In one area alone, the invitation of international film productions can easily increase the economic factors by an average of 10-20% within one year. This continues with expected rises, while other film producers may notice an area as an effective space to shoot. For some places, this invites an average of 11% growth in economic growth, ranging over a 10 year time frame .
The beginning economic value of a production of an international film in one area comes from the needs of a crew that is shooting in one location. Even if the film is a low budget option, there is still the need to care for cast, crew members and producers that are coming from overseas. This immediately stimulates the economy with capabilities to provide basic care for the individuals who are in the area producing the film. Since most crew members choose to stay for longer periods of time, it is expected accommodations and needs in the area will continuously rise. For instance, in one city, the average spending within a higher time frame can move up to an average of $1 billion, depending on the needs with the film, the time frame used and the extra supplies that are a part of the area.
The next stage to the production boosts in the economy are based on the responses that comes from others that know the movie is being filmed. Often times, tourists and visitors will become intrigued with the production, causing them to visit the area that the film is being shot at. This is combined with tourists who often come after the movie is released to learn more about the locality. For localities that are interested in boosting tourist dollars, the development of films is a simple way to advertise a specific area.
For those involved in the movie production business, are also incentives that are included, which may draw them to specific localities. For instance, some cities are known to provide loans, financing, property tax abatements and assistance during shootings. In the long run, the ability to cater to the international film productions provide more revenue for the care of the film production, as well as for the return on the film. This is combined with options such as tax incentives that are discounted for those that are shooting the film. Depending on where an individual is, also makes a difference in the appeal from the government to assist in discounts and breaks, which results in longer term boosts to the economy .
These factors add up within the film industry, as well as within localities to provide individuals with better options for the economy. Through the invitation from local areas to produce their films in a specific locality, is also the flow of money on a completely new level. The result are more options available to those who are looking for the perfect setting for their film.
O’Malley, Aileen. Adapting to the Changing Competitive Dynamics of the International Film Industry. Ireland. Retrieved from: http://www.irishfilmboard.ie/files/reports/Adapting%20to%20the%20international%20film%20industry%201105.pdf.
Weinstein, Bernard, Terry Clower. Filmed Entertainment and Local Economic Development. Economic Development Quarterly: (14), (4), 2000.