Taylor Swift 'exclusive' in Singapore, how is the handshake worth hundreds of millions of dollars?

As the only destination for Taylor Swift and The Eras Tour concert in Southeast Asia, Singapore has a wise strategy to develop the country. This handshake worth hundreds of millions of dollars made international media take their hats off.

According to Yahoo, since early 2023, Mr. Edwin Tong, Minister of Culture, Community and Youth, and a number of senior Singaporean officials have flown to Los Angeles (USA) to negotiate a solo Taylor Swift deal. power in the lion island nation in Southeast Asia.

After Mr. Tong's trip, Singapore and Taylor Swift's representative signed an agreement in May 2023. By June, information about the concert was announced. Singapore's CNA website estimates that the total amount Singapore spent on this contract is about 3 million USD.

According to Mr. Edwin Tong, the original plan was that Taylor Swift would perform for 3 nights. But facing the overwhelming demand of Southeast Asian audiences, Singapore proactively requested to open 3 more shows and pledged to support and create all conditions to run 6 shows smoothly.

The fact that Singapore is the only stop of the Eras Tour in Southeast Asia caused controversy and caused reactions from neighboring countries.

Thai Prime Minister Srettha Thavisin said in a business forum in February 2024 that Singapore paid Taylor Swift more than 2.7 million USD for each show. He said, Thailand is also willing to sponsor to invite Taylor Swift to perform.

"If I had known this, I would have brought the show to Thailand" - the Thai Prime Minister affirmed.

Taylor Swift and The Eras Tour are just the opening shots. In the future, Singapore will bring many international stars to perform, to stimulate tourism, contribute to economic development and make this country an ideal destination for Asian music lovers.

The Straits Times reported that it is estimated that Singapore's tourism revenue will reach 500 million USD after 6 nights of The Eras Tour at Singapore National Stadium.

Previously, all 300,000 tickets for 6 shows were sold out. Ticket prices range from 108 to 1,228 USD (about 2.6 - 30 million VND).

In addition, the local economy will also grow strongly thanks to tourism activities such as hotels, retail, travel and dining.

Recently, Singapore has been chosen by many big artists as a performance venue such as Blackpink, Coldplay and Ed Sheeran. Taylor Swift's historic tour will be an important project, contributing to the revitalization of the Singapore Sports Complex.

Edmund Ong - General Director of Trip.com Singapore - said that from March 1 to 9, airfares to Singapore increased nearly 3 times while the number of accommodation reservations increased 5 times. Bookings for attractions and tours have increased by more than 2,300%. Two airlines, Singapore Airlines and Scoot, said that demand for flights to Singapore in March skyrocketed, especially from Southeast Asia. Jetstar Asia also confirmed a 20% increase in demand on routes from Bangkok, Manila and Jakarta to Singapore.

On Agoda, when The Eras Tour in Singapore opened for ticket sales, the number of hotel searches in Singapore increased 160 times compared to normal.

According to Business Insider (USA), travel-related spending in all places where The Eras Tour is held has increased significantly. From air tickets, accommodation, meals to some retail items such as souvenirs. This phenomenon is also called "Swiftonomics", combining the word "Swift" in the female singer's name and "economic" meaning economic.

For example, Taylor Swift's 6 concerts at SoFi Stadium - Los Angeles brought in 320 million USD, with 3,300 jobs, according to the California Center for Employment and Economics. Taylor Swift is also a rare pop star publicly praised by the US Federal Reserve as "bringing incredible benefits to the US economy".

According to author Brittany Hodak, in the near future it will be difficult for any event to create as much attraction as The Eras Tour, "perhaps not until Swift tours again". Units in the tourism industry need to know how to take advantage of this moment, which many experts call "the phenomenon of the hotel industry".

Taylor Swift coughs, struggles to sing in front of 55,000 audience, health alarming Thanh Phúc16:23:05 06/03/2024Global music superstar Taylor Swift made international netizens nervous, as she repeatedly coughed and cleared her throat while singing on stage during a series of concerts in Singapore. The fans were simultaneously confused, wishing her to keep her health.