Latest news with #Singapore-exclusive
Straits Times
04-07-2025
- Entertainment
- Straits Times
Tourism bump from Lady Gaga concerts raked in up to estimated $150m for Singapore economy
Sign up now: Get ST's newsletters delivered to your inbox US pop star Lady Gaga performed a sold out concert in Singapore at the National Stadium on May 18, the first of her four night shows at the venue. SINGAPORE - Lady Gaga's run of four Singapore-exclusive concerts in May raked in an estimated $100m to $150m in tourism receipts for the Republic, say experts. While this was a fraction of the $350 to $500m that Taylor Swift's and Coldplay's concerts in March 2024 generated in total, it still solidified Singapore's position as a premier concert destination in Asia, they said. Figures published by American music and entertainment publication Billboard in end June show that Lady Gaga's Singapore concerts grossed US$40.8 million (S$52 million) from the sale of 193,000 tickets. The monthly report of top-grossing concerts showed that her only stop in Asia on the Mayhem tour, held at the National Stadium on May 18, 19, 21 and 24, averaged around $13 million per night. The stadium can hold about 50,000 people. These were Gaga's only ticketed concerts in May, since her May 3 show on Copacabana Beach in Brazil to 2.5 million people was free. Maybank economist Brian Lee said tourism receipts related to Lady Gaga's concert may amount to between $100 million and $150 million. He noted that the $52 million of revenue of Gaga's May 2025 concerts is half of the $104 million brought in by Taylor Swift's March 2024 concerts in Singapore. Concert revenue primarily refers to ticket sales, whereas tourism receipts encompass spending by overseas visitors on everything ranging from accommodation and food and beverage, to shopping and services. Top stories Swipe. Select. Stay informed. World Trump says countries to start paying tariffs on Aug 1, floats range of 10% to 70% Singapore Sengkang murder: Man accused of killing elderly mother escorted back to crime scene Singapore Multiple charges for man accused of damaging PAP campaign materials on GE2025 Polling Day Singapore Jail for man who recruited 2 Japanese women for prostitution at MBS Asia Malaysia dismantles ISIS network involving workers from Bangladesh Asia Chinese national missing in Thailand rescued, embassy warns of shady job offers Business Central banks tweak US dollar reserves, with euro and gold gaining ground: UBS survey Singapore Seller's stamp duty rates for private homes raised; holding period increased from 3 years to 4 International visitor arrivals to the Republic also saw a bump during both concerts, though the increase seen from Lady Gaga's concerts was considerably less. Figures from the Singapore Tourism Board (STB) show that inbound visitors grew by 8 per cent year-on-year in May 2025. In contrast, visitor arrivals jumped 43.5 per cent year-on-year in March 2024. 'The smaller tourism boost from Gaga concerts compared to Taylor Swift is not surprising, given Gaga's smaller and more niche following,' said Mr Lee of the numbers, adding that the uncertain economic climate may have also dampened demand for travel and big-ticket discretionary spending. 'In contrast to Taylor Swift's completely sold out shows, demand for Lady Gaga's was more lukewarm with last minute tickets still available and resellers slashing resale ticket prices,' he added. It appeared that tickets took longer to sell, with checks by The Straits Times showing unsold tickets still available up until the week of the concerts. It was a sentiment mirrored by Associate Professor Kiattipoom Kiatkawsin from the hospitality and tourism management degree programme at the Singapore Institute of Technology, who also attributed Gaga's smaller economic impact to playing fewer days than Swift's six - where the number of tickets and overall tourism receipts may be proportionate to the show size. He also alluded to Swift being at the peak of her popularity during her Eras tour concerts in March 2024, unlike Gaga, whose Mayhem album had only been released a few months prior. 'All three world-renowned artists, including Coldplay, may well be on par when it comes to economic impact as well as building Singapore's reputation as a premier destination for global entertainment for the region,' he said. 'The success of these concerts contributes to a virtuous cycle, where successful events attract more artists, which in turn draws more international visitors and enhances Singapore's brand as a vibrant cultural and entertainment capital,' he added. However, experts also expect a quieter second half of the year for mega concerts on the scale of Gaga, Swift or Coldplay. In terms of marquee events, the Formula One (F1) Singapore Airlines Singapore Grand Prix in October has a jam-packed line up with the likes of American rock band Foo Fighters and British legend Elton John, while K-pop megastars Blackpink are due in the Republic in November. While the concert calendar might appear quieter in terms of new announcements for top-tier acts for the second half of year, Prof Kiatkawsin said it does not necessarily indicate a long-term slowdown. It is not uncommon for the second half of the year to have a different rhythm in terms of concert announcements, as the planning and logistics for top-tier international tours often take considerable time, and announcements can be staggered throughout the year, he said. 'Furthermore, Singapore's strategy is not solely reliant on a continuous stream of mega-concerts but also on a diverse portfolio of events, including major sporting events like the F1 Grand Prix, Mice (meetings, incentives, conferences and exhibitions), and other cultural festivals,' he added. However, Maybank's Mr Lee said that tourism will not likely be a major boost to Singapore's growth in 2025, as headwinds persist. 'The trade war and heightened global economic uncertainty will likely dampen both business and leisure travel.'
Yahoo
03-06-2025
- Business
- Yahoo
YAHOO POLL: Are exclusive concerts the way to go for Singapore tourism right now?
The six sold out shows each by American mega-pop star Taylor Swift and British band Coldplay reportedly injected up to $450 million into the Singapore economy last year. In fact, Fortune wrote in May 2024 that the concerts may have saved Singapore's economy from shrinking. The concerts were all held in the first quarter of 2024 (Coldplay in January, Swift in March). According to the Singapore Tourism Board (STB), there were 4,353,500 international visitor arrivals in the first three months of 2024. This was a 50% increase from the same period in 2023 and a 26% increase from the last quarter of 2023. Other polls: YAHOO POLL: When in the day is best to take a shower? YAHOO POLL: Have you used an automated bot before? YAHOO POLL: Do you agree with US defence chief's comparison of Donald Trump and Lee Kuan Yew? In 2025, Singapore has already seen Lady Gaga play at the National Stadium from 18-24 May. Her shows are understood to have drawn over 200,000 local and international fans. And while it may be too early to report on what impact her concerts have had, the types of money generated by the 'experience economy' is something to take notice of. Barclays says Oasis fans are projected to spend over $1.7 billion (£1b) across 17 concerts during the band's UK reunion tour. This figure includes ticket prices, accommodation, travel, merchandise, food, drinks, and even clothing. So we want to know, are exclusive concerts the way to go for Singapore tourism right now? Related 'Singapore-exclusive' concerts are the way forward, while we still have the upper hand Taylor Swift concerts' economic benefits to outweigh grant size, as Singapore considers action over leaked info: Edwin Tong Singapore's economy boosted by Taylor Swift, Coldplay shows; over half of concertgoers 'likely' from overseas Taylor Swift and Coldplay concerts may have saved Singapore's economy from shrinking last quarter Lady Gaga stuns fans at Maxwell with surprise lunch stop Oasis: The massive figure fans will be spending on reunion tour costs is revealed
Straits Times
02-06-2025
- Entertainment
- Straits Times
‘Singapore-exclusive' concerts are the way forward, while we still have the upper hand
The strategy of Singapore-exclusive shows by international superstars could fuel the country's aspirations of being a global entertainment epicentre. PHOTO: HOONG QI HAO/ @QHVENTURES News analysis 'Singapore-exclusive' concerts are the way forward, while we still have the upper hand SINGAPORE - In the snaking lines for Lady Gaga merchandise in the Singapore Sports Hub's foyer two weeks ago, one could hear a smattering of Tagalog and Vietnamese, Thai and Hindi, and mainland Chinese Mandarin among the chatter. It was a smorgasbord sampling of fans from Asia and beyond, who had descended on Singapore for Lady Gaga's only shows in the region at the National Stadium from May 18 to 24. If they wanted to see Gaga in the flesh in this part of the world – on a brand-new tour that had been performed in only three other cities – they had to come to Singapore. As with Taylor Swift's runaway success of sold-out shows in March 2024, the Republic had once again managed to work out a deal making sure that the artiste played only here. Besides the economic boost, this strategy of Singapore-exclusive shows by international superstars could fuel the country's aspirations of being a global entertainment epicentre – and is one that should be pursued for as long as possible. Slower uptake, but optimistic signs from Gaga concerts In March 2024, pop star Swift held six sold-out concerts at the National Stadium – a series of shows that were later revealed to have been secured by Kallang Alive Sport Management (KASM), which runs the Sports Hub, and a team led by then Minister for Culture, Community and Youth Edwin Tong. Swift set a high bar, with six shows that sold over 300,000 tickets. Paired with British band Coldplay's six shows in January 2024, private-sector estimates said the two shows injected up to $450 million into the Singapore economy, bringing in high international visitor arrivals, high hotel occupancy rates and tourism revenue. Lady Gaga's shows were expected to draw over 200,000 local and international fans, according to KASM. But it appeared that tickets took longer to sell. Up until the week of the concert, checks by The Straits Times showed there were still unsold tickets. When asked, concert promoter Live Nation did not confirm if all four shows were sold out, nor how many tickets were sold. Any tangible impact on the economy at large will be seen only when the numbers are crunched in the coming months, but early signs are optimistic. Many hotels and food and beverage and nightlife establishments in town, and the Central Business District area especially, saw brisk business. Marriott International, which has almost 20 properties in Singapore ranging from hotels for budget-conscious travellers to luxury hotels, saw an increase in occupancy and revenue during Gaga concert week. 'The third day of the concert, May 21, saw the highest uplift in revenue per available room, of more than 70 per cent over the same time last year,' said a spokesperson. Other hotels like Swissotel The Stamford told ST that it saw a 'double-digit percentage increase in revenue driven by both higher occupancy and average rate across the complex'. There was high demand from countries such as China, Thailand and Hong Kong, said a spokesperson, adding that 'much of this business materialised at the last minute, with bookings made within the same month'. For some, like nightlife venue Restroom, these were the first signs of life for business in a slow 2025 so far. The bar, which hosted Lady Gaga-themed after-parties and hired local drag queens to perform, had snaking queues every night, and saw revenue double during the week of the concerts. Co-founder Keith Tan hired 50 per cent more staff to cope with the sheer volume of visitors who came from Taiwan, Vietnam, Europe and the US. 'It was not just concertgoers who came for drinks after the concerts ended at around 10.30pm... these are also tourists who typically stay (in Singapore for) a few days before or after the day of the concert they have tickets for,' said Mr Tan. However, others like cocktail bar Night Hawk said the rise in business during the week of the Gaga concerts was far less pronounced than when Coldplay and Taylor Swift were in town in 2024. Paradoxically, tourism experts say the climate of global economic uncertainty could encourage spending on such one-off events. Associate Professor Kuan-Huei Lee , director of programmes, business, communication and design at the Singapore Institute of Technology (SIT), said: 'During periods of crisis and economic uncertainty, individuals may increase their spending on emotional or aspirational goods and experiences that they perceive as 'once-in-a-lifetime' events, such as a Lady Gaga concert.' Proven formula, but can it be repeated? Lady Gaga's recent run of shows is the second time in two years that a major international act has chosen Singapore as its only regional stop. However, pulling off such 'once-in-a-lifetime' events on a regular basis could be a challenge. Not only is it contingent on mega artistes' touring schedules and attracting them to Singapore, but other countries in the region could also emulate the Republic's strategy. However, observers agree that Singapore is well placed to keep the momentum going. Several key factors make it a preferred choice in the region, noted tourism expert Benjamin Cassim, senior lecturer for hospitality and tourism management at Temasek Polytechnic. This includes the availability of hospitality and tourism infrastructure for travelling artists, their teams and visitors attending the concerts, as well as venues with a proven track record that are equipped to deliver in terms of size and technical support. Accessibility is another element, including the ease of getting to Singapore, and travelling within it safely, with an efficient public transport system that is close to venues. Mr Cassim noted that the Republic has already established itself as a premier entertainment and sports events destination, not just within the Asia-Pacific region, but also globally. 'A major catalyst for this transformation is probably the Formula One Singapore Grand Prix event, that Singapore started hosting in 2008,' he said. The F1 Singapore GP's consistently stacked and high-quality off-track entertainment line-ups – with concerts by A-listers from Queen and Shakira, to Ariana Grande and Green Day, built around the marquee race event – have been a template that has since been imitated by other F1 races around the world. 'The more concert and entertainment events Singapore hosts, the more experience the relevant stakeholders get at honing their craft,' said Mr Cassim. 'This increases our levels of expertise to successfully deliver top-notch events.' For concert promoters as well, Singapore is a reliable choice, though it is the most expensive in the region. It costs about 25 per cent to 30 per cent more to stage a concert here, compared with other countries in the region such as Seoul, Bangkok and Jakarta, noted Mr Zaran Vachha, co-founder of independent touring company Collective Minds. 'Bringing someone like Lady Gaga here costs millions of dollars, and at that level, they don't want things to go wrong,' said Mr Vachha. 'And in the region, despite it being the most expensive, Singapore is the least risky place to do that – in terms of everything from securing venues, licensing, approvals and visas (for artists and crew), to (ensuring) ticket demand. 'It's a safety net for both promoters and artists.' Securing the next big fish While Singapore has a first-mover advantage in this space, and the ability to make it happen again, it should pursue this 'Singapore-exclusive' strategy for as long as it can before others catch up. 'Replicating Singapore's advantages as a tourist destination is challenging,' said SIT's Prof Lee, noting that organising such events involves well-oiled coordination between the public and private sectors such as the Government, venue operators, lodging and logistics. He added: 'As neighbouring countries continue to lag behind in competing with Singapore up to now, it is crucial for Singapore to secure exclusive agreements. 'These should align with fan travel patterns, capitalise on logistical strengths, integrate additional activities for tourists to enjoy outside the concert, and closely observe emerging competitors in the region to adapt and adjust.' In 2024, Singapore hit a record $29.8 billion in tourism receipts, driven largely by visitors from markets such as China, Indonesia and Australia, said the Singapore Tourism Board (STB). Between January and September 2024, tourism receipts showed that spending grew across all categories, led by the sightseeing, entertainment and gaming category, which increased by 25 per cent to $4.6 billion. STB's outlook for 2025 is even more bullish, with expectations of receiving 17 million to 18.5 million international visitors, bringing in $29 billion to $30.5 billion in tourism receipts, surpassing 2024's numbers. After 2024's sold-out shows by Taylor Swift and 2025's run of shows by Lady Gaga, perhaps Singapore should angle for its next big fish in 2026. With such marquee concert events in the year attracting top tourism eyeballs and dollars, and with Singapore shifting priorities to quality tourism instead of quantity in terms of visitor numbers, the Republic must strike while the iron is hot – and continue on its rodeo run to lasso the highest stratosphere of superstars in the world. There is a very limited list of such stars, and one Beyonce Knowles Carter – currently on her reportedly 94 per cent sold-out run of Cowboy Carter shows around the US and Europe for 2025 – happens to be on it. Join ST's WhatsApp Channel and get the latest news and must-reads.
