I’ve never been much of a cinema geek until I learned about the economics involved behind the glitz and the glamour or ‘behind the scenes’ as one might say. Bollywood, the world’s largest film industry has captivated audiences around the world with its charming storylines, attractive dance sequences, and larger-than-life productions. The magic of this industry is associated with much more than entertainment, which is what this blog will delve into.
For starters, the industry significantly contributes to India’s economy by producing staggering box-office hits every other week. Aside from selling millions of cinema tickets to the public, Bollywood is also responsible for job creation, tourism revenue, and impacts sectors like fashion, music, and advertising. As a labour intensive industry, it provides more than 20 lac jobs to people in India and has “an employment generating capacity of nearly 35,000 a year”. In fact, it provides employment to not only those that are a part of the industry but also those related to it. Along with that, an increase in Bollywood’s foreign viewership helps them generate income through the export of films, distribution rights, and satellite rights. This has allowed India to gain global representation in the world and served as an incentive to spread the many wonders and cultures it proudly possesses.
Lastly, the tourism and hospitality industry has also been largely affected by the Hindi film industry. Many tourists are drawn to India due to their interest in Bollywood stars and their “fabulous lives”. The city of Mumbai alone is occupied with die-hard fans hoping to get a sight of Mr. Khan outside Mannat once in their lifetime. Actors of the industry have begun to gain global representation with Ranveer Singh being signed as the ambassador of Cartier and Allia Bhatt as the face of Gucci. All in all, the industry is only expected to rise in the future with higher viewership, greater popularity, and more loving fans.
Comments