Tomorrowland Faces Tax Increase as Boom Suffers Financial Woes

The Town of Boom in Belgium is considering a tax increase for the major music festival Tomorrowland. The event that usually happens two weekends during the summer may need to pay more taxes to help the financial shortfall in its hometown.

Economics

Earlier this week, the mayor of Boom announced that the municipality will have to go through staff cuts due to the lack of funds the treasury is dealing with. As of now, 40 employees may be let go. The finance director also explained that they need to make these harsh decisions. Otherwise, by 2027, the local staff won’t get a salary.

The new measures they’re discussing include staff cuts and a tax increase for local events, including Tomorrowland. This may come as a surprise to some. However, the town of Boom is a big supporter of the festival. Most recently, the cabinet signed an agreement that allowed Tomorrowland to take place in Boom for another 66 years. Nevertheless, the town only makes 1,5 Million Euros yearly, while hosting the event.

Other possible measures are outsourcing and reducing the energy bill. Moreover, they’re trying to limit contract extensions and sell municipal buildings that are vacant.

It seems like the festival will not necessarily be affected by the changes in Boom. Regardless, they can definitely allocate some of their focus in helping out the city that’s the home of the festival, and that it will allow it to happen for decades and decades to come.