Taylor Swift covers a wide area, how do 'torn' countries expect to be welcomed?

Globally famous female singer Taylor Swift is the name occupying the spotlight in international media in recent days. Before the concert in Singapore, many analysts have identified the reason why she is always 'competed for' by other countries.

On March 2, at Singapore National Stadium, Taylor Swift will officially hold a concert, this is one of 6 shows within the framework of her The Eras Tour. The event quickly became famous globally, not only for Singaporean fans, but also for neighboring countries hunting for tickets, including Vietnam. It can be seen that Singapore will soon receive an extremely large number of international visitors, thanks to the attraction of Taylor Swift.

Previously, in February 2023, Taylor Swift held a concert in Australia. According to Brendan Rynne, before Taylor Swift's Australian tour, there were wild numbers being given. Taylor Swift's global Eras Tour was the first tour in history to surpass the $1 billion revenue mark, with more than half a million tickets sold in Australia. With transport, accommodation and labor requirements as well as other spending in sectors such as restaurants and merchandise, estimates of the tour's impact on the Australian economy have been as large as 1 billion dollars or more.

However, Rynne estimates that number is actually only about $10 million. Such a large difference is not surprising, but to experienced economists it is not unusual.

"In short, any spending by Taylor Swift fans in Australia is simply a transfer from one spending (or saving) category to another," Rynne said. The real economic benefits come only from foreigners, who account for about 2%.

Rynne values Taylor Swift's economic value at approximately $63 million based on international visitor data. Each foreign Taylor Swift fan spent about $500 on the day of the concert and then stayed an average of 11 days and spent an additional $6,000 each.

Event Pty Ltd director Simon Thewlis agreed with estimates of economic growth from Taylor Swift's concerts, but he also noted that it was overblown.

"Artists earn a lot of money from selling tickets and goods and items. The entire program is shipped from the US. So a large proportion of USD will also flow to the US," he said.

According to a new report from Japanese investment bank Nomura, Taylor Swift's global tour has certainly had benefits for the local economy. However, the bank questioned the extent of the tour's impact on national data.

Taylor Swift's concerts in Singapore will begin on March 2, taking place at the National Stadium with a capacity of 55,000 spectators, creating a fever for ticket hunting not only in Singapore but also in many countries. other countries in the region. Many people were willing to line up overnight for the chance to buy tickets, with prices ranging from 88 to 1,228 SGD depending on the category. Tickets for Taylor Swift's concerts in Singapore also appear on the black market with prices up to 3,000 SGD (equivalent to 2,200 USD) for a VIP ticket.

Expert Cheong from Syntegrate LLP said: "If you look at the number of tourists coming to Singapore, their length of stay as well as their spending ability, I think that amount will be much larger than the sponsorship from Singapore. Government".

With the rapid increase in tourist numbers and their spending, Taylor Swift's concerts, which Cheong compares to F1 Grand Prix races in terms of scale, if performed well, will increase Singapore's appeal as Top destination for event organizers.

"This will send an international message, demonstrating that Singapore is aiming to attract high-yield and high-quality visitors. Concerts like this put us on the map of world event tourism." world, similar to F1" - Cheong emphasized his point of view.

Taylor Swift is caught up in legal trouble after the departure of a female fan, but still decides to hold 3 more concerts? Snow17:46:53 25/11/2023The controversy at the Taylor Swift concert has occupied the media and social networks for a long time. Brazilian authorities recently opened an investigation into the company that organized the singer's show in Rio de Janeiro.