K-pop supergroup BTS set to trigger US economic boom with tour: Every stop is going to see a boost'

"Move over, Taylor Swift. Her Eras tour was the highest grossing in history, sparking an estimated $5bn in direct consumer spending across the US. But now another musical phenomenon is preparing to sweep through North America and economists expect it will generate tens of billions of dollars in economic activity along the way. K-pop sensation BTS will embark this year on their largest tour yet, spanning 34 regions across five continents, ending a hiatus due to mandatory military service that lasted almost four years."

"The BTS tour will be the event of the year, Timothy Calkins, a marketing professor at Northwestern University, said. Every stop is going to see a boost in tourism, hotel occupancy, and economic activity to an extraordinary degree that might be even bigger than Taylor Swift. The first US stop is Tampa, Florida, on 15 April. Tickets have yet to go on sale, but that has not stopped fans like Leslie Huynh, 28, from booking up flights and hotels."

"I consider BTS to be a very expensive hobby of mine like, they are what I spend my money on. Huynh, a film equipment rentals associate based in New York, hopes to attend 11 cities on the tour, catching 22 shows along the way. She expects to spend at least $6,000. When she travels for a concert, Huynh explores the city and ventures on a BTS pilgrimage, hitting up spots the boyband has visited, such as restaurants or tourist attractions."

Taylor Swift’s Eras tour generated an estimated $5bn in direct consumer spending across the US. BTS will launch a 34-region, five-continent tour this year, ending an almost four-year hiatus for mandatory military service. Economists predict the BTS tour could generate tens of billions of dollars in economic activity and may surpass Taylor Swift’s impact. The first US stop is Tampa, Florida, on 15 April, and tickets are not yet on sale, but fans are already booking travel and hotels. Fans plan multi-city attendance, significant personal spending, and pilgrimages to band-related sites; Army fans share loyalty and spending traits with Swifties.

Read at www.theguardian.com