Estimed GDP created by 747 site?

mmpleaser

I must say before and after discovering 747 in 4 months, I contributed at least 8K to TO underground GDP.  No one adds MM count in employment figures, should the Unemployment be lowered a bit with all our CASH input into the GDP?   I noticed the SERVICE industry (legit or otherwize) are directly related to many NEWCOMERS (tourist or otherwize) in TO area.  Most of the work is NOT counted or CANNOT be counted.   This is indeed a high income group and really should not be ignored.
Mind you, by spending money in this area, that means other businesses are NOT getting the sales and therefore lowered.
So I am confused as to the contribution to GDP added by 747 forum.  Any thoughts.

tomsiu

Uh ... 大泡和 ... Another mind blow? Well, I'm interested to this topic. Here my guess:
GDP used to be calculated on Gross REVENUE/PRODUCTION (Not include expenses and Capital transfers etc). The figures may be mislead due to refers [747] only.

Not include:
Expenses > Rent paid to landlord. Ad fees paid to "small potato"
Capital transfers > Money/Funds that were transferred to home. Such as China, Korea or HKG etc.
Include only:
$ received by business on 747's advertisers.
>MW is the biggest. Generates 1/3 of "hunt" $. About 10MMs each received 10 customers per day. Which are 10x10x$140 = $14,000
>ASB, BH & D4U combine equal 1/3 (3 of those combine same units of MMs) = $14,000
>Balance 1/3 for the rest = $14,000
Therefore the daily GDP would be $14,000 x 3 = $42,000 (or $42k x 360 = $15M)

Correct me if I'm Wrong! (remind again that it's 747 only)

Among $15M gross MMs took home about $10M. Therefore, 90% of GDP generated from then to Korea/China/HKG as Capital transfer. Local MMs took only $1M.

Now, should (Toronto or 747) the GDP figures is $15M or $1M?

tomsiu

Guess what : Toronto has 300,000 Chinese. Half male = 150,000. Among 150,000 half adult (20+) = 75,000. Among 75,000 10% are "hunters" = 7,500

Each hunter spent $2,000 per year (ads in 747 only) = 7,500 (adult male) x $2,000 = $15,000,000
Hmmm ........ figures close to accurate.

mmpleaser

One on supply and one on demand.  GDP is Gross not net.  I thought TO is close to .5 Mn Chinese, not counting undocumented.

tomsiu

GDP counted on Gross! I understand this. But, the expatriates remit funds back home?

Personal oversea travel > Payment made locally but services (money) incurred beyond the border.(not local GDP)
Korean MMs > Payment made locally but money remitted beyond the border. (GDP belongs to Korea)

Does it make sense?

mmpleaser

tomsiu 发表于 2015-12-18 04:32
GDP counted on Gross! I understand this. But, the expatriates remit funds back home?

Personal over ...

GDP is any event with monetary value incurred.  Multiple counting exists.  D is domestic, ie. what happens in other countries by your citizen do not count.
Remittance is capital inflow outflow, not any event, just money movements.  Biggest ones are trades and hot money movement (which no country or bank like) due to expectation of currency revaluation or chasing highest interest rate return (such as US is collecting lots of capital inflow with this week's central bank rate hike.)

mmpleaser

tomsiu 发表于 2015-12-17 11:49
Uh ... 大泡和 ... Another mind blow? Well, I'm interested to this topic. Here my guess:
GDP used to  ...

So TO industry is dominated by the 4 Blue chip companies, or 3 stars surrounding one Moon (pun intened).
No need to look further from other place for above average MM.  Thanks for your observation.  NOW I know from all those ADs without further research.

mmpleaser

Tom Sir,
Following up your tip about industry giants, I further discovered that the geographic domination is as follows:
1. West end by ASB
2. North (NY, M)  both BH and D4U
3. ALL around MW.
So as a Eastender, I will have to skip ASB in my search.

tomsiu

mmpleaser 发表于 2015-12-18 06:58
GDP is any event with monetary value incurred.  Multiple counting exists.  D is domestic, ie. what ...

GDP= Gross "domestic" product. "Event/services" produced with monetary value "domestically".

Here come the thoughts:
>MMP joined a group tour in New York City. Paid $1,000. Less than profit kept in New York say $100. Thereafter, $900 had been spent in Toronto. "Event/Services" incurred in Toronto= Services provided in Toronto. So, GDP of $900 belongs to Toronto?
Now, back to your argument..... $100 event in NY. $900 event in Toronto. Make senses?

[The travel agent in NY made no event at all but, collecting $1,000 only]. It's book entry is:
Received Cash             $1,000                Asset account
Retained profit/revenue               $ 100   Revenue account
deferred payable amount             $ 900   Liability account.

Any Accountants here disagree this book entry?

For Korean MMs GDP earned in Toronto couldn't be made same as in classrooms (or per text books). IMO it needs a deeper thoughts to find out REAL GDP with this sample.





  

tomsiu

K MMs make money in Toronto is very exception case. Here my thoughts.

MW received cash from 大泡和  $140
MW's cut                                    $ 50
MM's cut                                    $  90
The case here very straight forward that we all knew (unless we don't or ignored) $90 would have been remitted out (of the country). Therefore MM's $90 would be booked as "deferred payable amount".

I am not Accountant. Therefore, welcome TRUE ACCOUNTANT comments, if any!