A new data released by the Mount Vema Department of Statistics and Risk Assessment says that consumer spending in Mount Vema will exceed 500 million golles, more than $1 billion US dollars a year.
The new figures come after the government started to include visitors due to an increasing number of people making travel plans to Mount Vema. Previously the Statistics Department released its estimates based on the number of accommodations allocated for each district that will total 250,000+ residents which was the amount of homes needed to keep the economy going.
This is the first time the figures are published, with the estimated number of annual visitors expected to attend annual events and tourism which as an industry, was never included in the estimates before.
For the economy to function as it is designed, Mount Vema will need more than 250,000 temporary workers within the next 10 years, with each district providing accommodation to just over 25,000 people to meet that target.
When the government published estimates, which are changed every quarter in line with economic developments, the market always anticipated that tourism estimates were coming. The new estimates today just confirmed what brokers and economists at Gollexi – The Mount Vema Stock Exchange have been commenting for years.
As developments entered a new stage, the Mount Vema Center for Statistics and Risk Assessment decided that it has enough data to include tourism. So, businesses serving 250,000+ customers including more than 1.5million estimated visitors per month, each spending just about 500 golles, they are likely to generate just over 50 million+ golles (more than $100 million+ US dollars) every month.
After fees and expenses there will be still about 40 million golles a month to be shared between traders serving the residents. The data explains why there is so much interest in business licenses and the increasing number of foreign companies and foreign governments investing in Mount Vema companies and government bonds either at the Gollexi or privately through lucrative deals with the Vema Seamount Authority. The key is to be always one step ahead of the market and identify the opportunities before the market catches up.