Transcending Taylor: How concerts are transforming tourism in 2024
Which events attracted most visitors, increased accommodation nightly rates, boosted local spending & created positive social media?
While Taylor Swift may be stealing the spotlight with her electrifying performances, there’s a powerful economic symphony playing in the background of other major musical events across the globe.
According to a revealing analysis by The Data Appeal Company, part of the Almawave Group, concerts by global icons like Adele, Coldplay, and the legendary Rock in Rio festival are not just entertainment spectacles—they’re economic powerhouses that are transforming local economies and reshaping the international tourism landscape in 2024.
The Winter Issue of AccomNews is out now. Read it HERE
These events are not just about music; they’re about money, movement, and making an impact. From skyrocketing hotel rates to bustling local businesses, the data shows that when these stars come to town, they leave behind much more than just memories.
Let’s dive into how these concerts are striking a chord with local economies and what it means for the future of tourism…
Economic windfalls from musical giants
The study, which draws on data from various Online Travel Agencies (OTAs) such as Booking.com and Expedia, showcases how music events can transform host cities. These events not only attract visitors but also drive up accommodation prices, boost local spending, and create a positive feedback loop through social media.
The Data Appeal Company’s core platform, D / AI Destinations, which is used by international tourism boards and cities, played a crucial role in analysing the impact of these events on local economies and tourism during key dates in 2024:
-
Coldplay in Rome (July 12, 13, 15, and 16): Attracting approximately 70,000 attendees, Coldplay’s concerts in Rome generated an estimated spending of over €17 million. The influx of fans significantly boosted local businesses, especially in the hospitality sector.
-
Adele in Munich (August 2, 3, 9, 10, 14, 16, 23, 24, 30, and 31): Adele’s exclusive performances at a specially constructed open-air arena at Messe München, accommodating up to 80,000 people, led to a 110 percent increase in hotel prices. Despite some tickets still being available, the concerts are expected to have a substantial impact on Munich’s local economy.
-
Rock in Rio (September 13-15 and 19-22): This iconic festival in Rio de Janeiro is anticipated to attract over 700,000 attendees. The event has already spurred a 93 percent increase in accommodation rates, despite many properties opting for direct bookings rather than through OTAs.
Spending trends: Lodging, food, and transport
The analysis also breaks down spending patterns across these events, revealing distinct differences:
-
Accommodation: Coldplay fans allocate 54 percent of their spending to lodging, whereas Adele and Rock in Rio attendees spend only 22 percent on accommodation.
-
Food and Beverages: Rock in Rio leads in this category, with 62 percent of attendee spending going towards food and drink, followed by Adele’s fans at 53 percent. Coldplay fans, meanwhile, spend 42 percent on dining.
-
Transportation: Adele’s Munich concerts see the highest transportation spending at 25 percent, suggesting a greater need for travel. In contrast, Rock in Rio attendees spend 16 percent, while Coldplay fans spend just 4 percent, likely due to closer proximity of accommodations to the event venues.
Mirko Lalli, CEO of The Data Appeal Company, remarked on the importance of these events: “Events of this scale not only attract thousands of visitors but also bring significant economic benefits to the host destinations.
“This says a lot about how much tourist destinations should invest in an optimal calendar of international artist dates, now capable of attracting overseas fans as well.
“To do so though they need to capture data related to who attended, what they did and where they spent their money – in order to continually fine-tune and improve the benefits to the local economy when planning future events.”
Lalli also emphasised the need for sustainability in event planning, noting that large-scale events can place stress on residents and the environment. Strategic management is essential to ensure these events continue to benefit tourism without compromising the well-being of host destinations.
Visitor Demographics: A snapshot of music tourism
In a related study, Mabrian, also part of The Data Appeal Company, examined the average age of visitors to Madrid and Seville during Taylor Swift and AC/DC concerts. The findings revealed a four percentage point increase in visitors under 35 in Madrid during Swift’s concerts compared to the same period in 2023. Meanwhile, Seville saw a nine percentage point increase in visitors over 55 during AC/DC’s performance.
Carlos Cendra, Partner & Director of Marketing and Communications at Mabrian, highlighted the importance of understanding the nuances of musical tourism: “These insights highlight the importance of accurately measuring the impact of musical tourism, given its complex nature.
“By examining how different music styles and events influence traveller behaviour and demographics, destinations can better understand spending patterns and overall impact.”
This analysis highlights the pivotal role of the music sector in shaping the tourism and economic landscape of major international cities, and the necessity for careful planning and sustainable practices in hosting such large-scale events.
For more detailed insights, read the full ebook on this study HERE
AccomNews is not affiliated with any government agency, body or political party. We are an independently owned, family-operated magazine.