Southeast Asia - a gold mine for famous bands to earn millions of dollars

In particular, Singapore also has ambitions to become the entertainment center of the region, expecting huge revenue.

Make money from music

Southeast Asia - a gold mine for famous bands to earn millions of dollars 1

The Tourism Authority of Thailand sponsored a BlackPink concert that attracted more than 66,000 attendees, aiming to become a regional music destination.

According to the latest statistics from the Hanoi Department of Tourism , on July 29-30, during the two concerts of BlackPink, the total number of tourists to Hanoi was more than 170,000.

Of which, 30,000 are international visitors, the rest are domestic tourists. The influx of visitors has led to an increase in services such as accommodation, transportation, and cuisine .

It is estimated that the total revenue from tourists during the two days of the music night is about 630 billion VND. This figure increases the total number of tourists to the capital in July by approximately 2.5 times compared to the same period in 2022.

Not only Hanoi, Singapore, Thailand, Indonesia... have enjoyed huge revenue from tourism thanks to concerts of famous stars such as Taylor Swift, Coldplay, BTS, BlackPink... Singapore is even known as the "capital" of concerts in the region.

Southeast Asia - a gold mine for famous bands to earn millions of dollars 2

Taylor Swift on tour in the US.

According to a survey, there are nearly 30 artists and bands that will hold concerts here in 2023. Most recently, Coldplay announced 6 shows in Singapore in January 2024 for the Music of the Spheres world tour. This is also the band's longest stop in the world.

Taylor Swift's Eras Tour will also be performing six nights in the Lion City. Ticket sales are estimated to have reached 8 million, more than the population of Singapore.

WiT website said that Singapore National Stadium has a capacity of 50,000 people, the average ticket to see Taylor Swift's concert is 600 RM (more than 3.1 million VND).

It is estimated that the 6-night show will earn at least 180 million RM (nearly 940 billion VND). Not to mention the opportunity for a sudden increase in ancillary services such as accommodation, transportation, food, tourism, etc.

The Star newspaper predicted: “Airlines flying to Singapore during the days when Taylor Swift or Coldplay perform will see a sudden boost.”

“We expect over 600,000 fans from all over the world to flock to us and spend over S$1,700 on our services,” said Sarah Wan, Regional Director of Klook (a travel and experience e-commerce platform). “Already, our service packages combined with 4 and 5-star hotels have sold out within two hours of opening.”

A representative of the travel platform Agoda said that the number of searches for accommodation in Singapore increased 7-8 times compared to normal, on the days of the rock band Coldplay's performance.

Previously, Singapore's tourism industry pocketed more than 35 million USD (more than 830 billion VND) after two BlackPink shows last May.

Thailand’s tourism industry has also benefited from the organization of international concerts. Event and entertainment management company CMO estimates the total market value of all concerts in Thailand this year at around 5-6 billion baht (about 3,400-4,100 billion VND) and will increase by 10-15% next year.

In particular, BlackPink's concert in January "saved" the country's gloomy tourism industry after the pandemic, helping to earn a profit of 20 - 30 million USD (about 475 - 712 billion VND), according to Postsen Thailand.

The Bangkok Post reported that 20 K-pop concerts were held in the first three months of the year. Last year, about 80 events took place here. Before the pandemic, the number was as high as 100 a year. There were weeks when three different artists held events in Thailand on the same day.

Policy opens up opportunities

Southeast Asia - a gold mine for famous bands to earn millions of dollars 3

Fans line up to buy tickets to Taylor Swift's only concert in Southeast Asia. Photo: Reuters.

It is no coincidence that Thailand, or a small country with a population of less than 6 million people like Singapore, becomes a favorite destination of world famous singers.

According to The Star, the Singapore government has long outlined an initiative to turn the island nation into Asia's events and entertainment hub.

Since the 2000s, the country has been actively attracting world-famous singers to hold concert tours here. The Singapore Tourism Board has collaborated with American singer Charlie Puth and Hong Kong rapper Jackson Wang to produce a series of videos promoting tourist attractions.

Kevin Wee, senior lecturer at Nanyang Polytechnic, said that Singapore's convenient location and air connectivity with many direct flights to many countries in the region is also an advantage.

IMC Group Asia, the entertainment company that manages concerts in Singapore, explains that the country is an ideal location for artists partly because of its investment in world-class infrastructure and modern venues that are well-equipped to host large-scale performances.

Ease of obtaining work permits and visas for troupe members is another important factor.

Agreeing, Abu Bakar, co-founder of World Women Tourism Barkathunnisha, said: “The stable situation and good security, such as crowd control and anti-terror protocols, also make Singapore a favorite destination for big names.”

This scenario has also been effectively applied by Thailand in recent years. Not only is it ready to invest in physical facilities and transport infrastructure, but the music development policy in the Land of Golden Pagodas is also closely supported.

For example, the Tourism Authority of Thailand (TAT) is one of the main sponsors of the BlackPink concert. At the end of 2022, the Creative Economy Agency of Thailand (CEA) also launched a competitive strategy, aiming to surpass South Korea's K-pop to become a global cultural phenomenon over time.

According to director Chakrit Pichyangkul, this strategy aims to globalize Thai popular culture, through promoting three main pillars: providing opportunities for cultural and creative activities; building competitiveness among creative businesses; and penetrating global markets.

Meanwhile, the Philippines, Malaysia, Indonesia… are at a disadvantage due to infrastructure and policy difficulties. That is why, right after Taylor Swift announced her tour in Singapore, The Star expressed disappointment that Malaysia “wasted a golden opportunity” to recover from the pandemic, because it could not win the American star’s tour.

Previously, in the Philippines, the band Coldplay had to reduce the size of the stage because there was not enough logistics team and the cost was too expensive.

As for The Eras Tour, according to sources from media "boss" Kris Aquino in the Philippines, this country also tried to bring the tour back but was unsuccessful.

The reason given was that the cost of organizing the tour was too high, as Taylor Swift wanted to keep the original scale so that the tour would be perfect in terms of sound, lighting, stage organization and performance.

With the tourism stimulus after BlackPink's show, the Hanoi Department of Tourism said it will continue to promote tourism in the capital in the coming time. In August, in addition to organizing events, programs and festivals to promote tourism in the capital, the Department also plans to prepare for the Hanoi Ao Dai Festival in the fourth quarter of 2023.

In addition, the Department will continue to cooperate and promote attracting international visitors in key markets such as: Northeast Asia, France and some European countries, the US, India, China...

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