Puget Sound Balloon Festivals
How economic growth works
The person who sells a balloon ride goes to the local restaurant to buy a meal.
1. The restaurant owner goes to the local farmers market to buy produce.
2. The farmer pays his worker for helping work the land
3. The worker hires a contractor to build a house
4. The contractor hires a sub-contractor
5. The sub-contractor barks his knuckles and goes to the doctor
6. The doctor pays his nurse
7. The nurse buys groceries at the local store.
Now ONE dollar is worth SEVEN, Plus many benefit from it.
And it could be more if people bought locally more.
For every dollar spent it is re-spent on the average 7 times. It is the number of times the currency is re-spent that makes an economy thrive AND grow. TOURISM is one of the most successful ways to catapult an economy. It doesn’t matter if you look at a local example like Leavenworth or Port Townsend or you look globally to China.
It was TOURISM that fed their growth and success