Amid the frenzy to secure tickets, economists and business experts have told
that while the concerts will bring benefits to the tourism and related sectors, its impact on inflation will be limited.The National Stadium is set to host British band Coldplay for six shows next January, followed by Taylor Swift for also six shows next March — her only South-east Asian stop. Hong Kong star Jacky Cheung has also sold out tickets to 11 shows at the Indoor Stadium later this month and in August.
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looks at the economic gains and potential drawbacks that upcoming concerts by headline acts here could bring to Singapore, including their impact on inflation. A tourism boost Experts said that the wave of upcoming concerts in Singapore will be a boost to tourism and its related sectors, such as the hospitality, nightlife, and food and beverage industries.
Private Bank economist Song Seng Wun said that inflationary pressure can occur from the “multiplier effect” of organising concerts. The effect occurs when a whole pool of people, such as those in the hospitality sector, consume goods and services along the way in relation to the concert. This adds to demand for things like taxi or food, he said. However, inflationary pressure can only happen if people are willing to spend, he said.
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