Friday , April 19 2024

Live music craze will boost tourism sector

book a live show

From Drake to Olivia Rodrigo and Nicki Minaj, many international music artists have booked live shows around the world in 2024. Diehard fans of these artists will do anything to attend a show of their favorite artists. This also includes traveling of lakhs and thousands of kilometres. This is the reason why this artist is in demand all over the world because the financial interests of many people are linked to his live shows. Some countries like Romania and Greece will be special attractions for music lovers during the coming months.

world Tour

Part of Britain's legendary Coldplay's “Music of the Spheres” world tour. Music festivals will be organized in many of its cities. Additionally, throughout the year Coldplay has over three dozen shows booked in various cities in over a dozen countries such as Hungary, Romania, France, Italy, Germany, Finland, Austria, Ireland, New Zealand, and more. Therefore live shows will also be done. in many countries. The world tour began on 17 March 2023 in Arizona (US) and has shows booked for 151 days. So, you might imagine that fans of the American superstar, known as Swifties, would travel miles to attend the show.

music tourism

Spanish air travel booking company Amadeus claims that music tourism is one of the key tourism trends of 2024. Searches for flights to Athens increased by 62% in the week following the announcement of the two shows in the Greek capital Athens. The company saw an increase of more than 91% in flight searches to Romania. It may be surprising, but music tourism is becoming increasingly popular around the world. Some big name music tours come with many financial benefits. For example, Beyoncé's stay in Sweden during her world tour attracted an estimated 90,000 people to Stockholm. Michael Grahn, chief economist at Sweden's Danske Bank, said inflation had risen by 0.2% to 0.3% since Beyoncé's tour due to price increases at hotels, restaurants and other venues.

Music tourism market will be worth Rs 1.16 lakh crore by 2033

According to music and tourism industry insiders, music tourism has the potential to become a big business. Music industry professionals know this well and now offer special packages that combine the music experience with tourism. According to data analytics firm Future Market Insights, the global music tourism market is expected to reach $14 billion (Rs 1.16 lakh crore) by 2033, up from $6 billion (about Rs 50 thousand crore) in 2023. It is projected to grow at an annual growth rate of 9% over the next decade.