J.Lo Concert Was Profitable for Armenia: Arsen Torosyan

MP from the "Civil Contract" faction, Arsen Torosyan, made a post on his Facebook page:

"Of course, many people will go to the concert of Jennifer Lopez, one of the idols of our youth, including those who criticize the government's investment, but that is another topic, even a national peculiarity, which we will talk about on other occasions.

Now I want to present to you the analysis below, which is of course approximate and based on public data.

The Armenian government's $6 million investment in the Jennifer Lopez concert at the Vazgen Sargsyan Republican Stadium brings significant economic and international benefits. The concert, which will be attended by about 24,000 spectators (14,000 seats, 10,000 standing places), generates a total added value of $10,071,320. This includes $3,891,320 from ticket sales (15,000 tourists and 9,000 locals), $6,000,000 from tourist spending (at $400 each), and $180,000 from local spending (at $20 each). After subtracting the $6 million investment, the net profit is $4,071,320, and the return on investment (ROI) is 67.86%. In addition, the concert brings Armenia $2,000,000 in visibility value, promoting tourism and international recognition.

This analysis was performed by Grok, an artificial intelligence created by xAI. This concert shows that the Armenian government's investment is not only financially profitable but also a strategic step for the country's future development," he wrote.