The rise of music tourism has become a catalyst for significant economic growth due to the music industry’s broad reach and experience-driven travelling.Music tourism has seen rapid growth in the last few years, especially after the pandemic; growing numbers of travellers have prioritised travel governed by cultural and significant events, including music festivals and concerts. As per Custom Market Insights, valued at US$6.
The outcome was more than successful, with some exclusive tour packages costing thousands, even up to tens of thousands selling out, with 90% of consumers hailing from overseas. The growing potential of economic benefits of music tourism is significantly due to music fans’ willingness to spend significantly beyond ticket prices on local experiences, as supported by travel site Klook and a reported 50% increase in Singapore attraction sales.
While there are some potential threats to the rise of music tourism, with the massive growth potential and strategic marketing done by event organisers and local organisations, this trend shows no sign of slowing down. Taking on and capitalising on music tourism can significantly boost local economies. Continuing growth is expected, judging from pleasing results and significant beneficial outcomes in recent examples.