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The Hobbit Premiere Generates Nearly $12 Million

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HobbitPremiere_PeterJacksonNew figures have shown just how important the premiere of The Hobbit: An Unexpected Journey was to the economy of Wellington.

The premiere, held in New Zealand on 28 November 2012, cost the City Council $1.1 million, but an economic impact report shows that $11.7 million was added to the local economy during premiere week says nz.finance.yahoo.com

Wellington City Council’s economic portfolio leader Jo Coughlan says it is an excellent return on the money the council spent.

“We know that it’s a direct contribution of nearly $10 million to Wellington, and an additional $2 million spent by others in and around the premiere.”

Jo Coughlan says the report takes a conservative approach and does not include the flow-on effects of incomes generated by the premiere, or the money spent by local residents.

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