2023-10-11 15:03:34
Music stars generate huge incomes and revitalize hotels and restaurants. The concerts that music stars revived in stadiums as part of their global tours following the pandemic are witnessing a huge public turnout and achieving record revenues that have now occupied a prominent place in the economic data, while their businesses and the tourism movement they attract generate large incomes. Among them is the American star Taylor Swift, whose pre-sales of tickets for the film, which was filmed during the first part of her concert tour, exceeded $100 million in various parts of the world, a week before the start of its performances on Friday, according to what “Agence France-Presse” reported from the company “AMC”. », a tally that already constitutes a record for the revenues of a feature film regarding a concert. The total revenues of Swift’s tour may exceed one billion dollars when it ends at the end of the year 2024 (AFP). The high value of advance reservations reflects the amazing success achieved by the “Taylor Swift: The Era Tour” tour itself, as the total revenues of her tour may exceed when it ends. At the end of the year 2024, it will reach a billion dollars for the first time in the history of music, according to American estimates. Even the magazine “Polestar”, which specializes in live arts, expected that the revenue from the tour’s concerts would reach regarding $1.9 billion. In early September, the head of the US Federal Reserve in New York, John Williams, revealed that what he described as “the Taylor Swift factor” had contributed to stimulating the US economy in recent months, “because people were spending on parties and hotels, and all of that constituted a major phenomenon.” . Last May, Philadelphia hotels in Pennsylvania achieved their highest revenues since the beginning of the pandemic, “thanks in large part to the influx of visitors to Taylor Swift’s concerts in the city,” according to a sector official in the “Big Book” report issued by the Reserve. Federal Reserve in early July. Economist Maria Cielo of the British University of Birmingham noted that the six concerts held in Los Angeles in August led to an increase of $320 million in the county’s gross domestic product. Beyoncé’s two concerts in Stockholm contributed to a higher rate of inflation than expected in Sweden (Archyde.com). The star Beyoncé’s concerts had no less impact on the economy, as one of the economists believed that her two concerts in Stockholm, which were the first of her world tour, contributed to a higher rate of inflation than expected. In May, Sweden. This is not due to the high price of concert tickets, as the large public demand can explain the increase in hotel and restaurant prices, according to Michael Gran of Danske Bank. The specialized “Billboard Bookscore” website reported that the total revenues from the “World Renaissance Tour” tour, which the international star concluded on October 1, may reach regarding $560 million, making it the highest-grossing tour for a female artist in history. The tour’s revenues reached $461 million at the end of last August, surpassing what Madonna achieved during her “Sticky and Sweet Tour” in 2008-2009. The record is currently held by Elton John, whose farewell tour “Fairwell Yellow Brick Road 2018-2023” “More than $910 million. Within 10 years of its existence, the Korean K-Pop boy band BTS, which has now suspended its activity due to a number of its members entering compulsory military service, has generated billions of dollars for the South Korean economy. In December 2018, the Hyundai Research Institute reported that BTS, which was the first all-South Korean group to reach the top of the song contests in the United States and Britain, brought their country more than $3.6 billion in annual economic benefits. In 2022, the Korea Culture and Tourism Institute estimated the economic impact of each BTS concert at 1.22 trillion won (more than $900 million). “BTS” brought its country more than $3.6 billion in annual economic benefits (AP). In a similar context, despite the passage of more than 50 years since the termination of the “Beatles” contract, the city of Liverpool is still the hometown of its members Paul McCartney, John Lennon and George Harrison and Ringo Starr, attracting fans of the famous quartet. There are many sites of interest to visitors, including the Cavern Club concert hall, Penny Lane, the former Strawberry Field orphanage, or museums, restaurants, and souvenir shops. The value of tourist traffic associated with the Beatles is estimated at regarding 120 million pounds sterling annually (regarding 150 million dollars), according to the municipal council. Memphis is still a destination for fans of rock and roll legend Elvis Presley (AFP), and other places in the world benefit from its artists, as the city of Memphis in the US state of Tennessee, which includes Elvis Presley’s residence (Graceland), is still a destination for fans of the rock legend. and roll, while Jamaica preserves what reggae giant Bob Marley left behind. As for the band ABBA, it contributed to making Sweden the third largest music exporting country in the world, following the United States and Britain.
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