“‘Swiftonomics’? It can’t compare to ‘BTS-nomics.’”
A forecast suggests that the economic ripple effect of BTS’s comeback performance at Gwanghwamun Square, set to begin at 8 p.m. on the 21st, could reach as much as $177 million.
This estimate was released on the 19th (Korea time) by global economic media outlet Bloomberg. It reportedly calculated the overall impact on the Korean economy, including airfare, accommodations, food and beverage spending, and even purchases of merchandise (goods).
Bloomberg also drew attention by directly comparing BTS with American pop star Taylor Swift, often cited as a prime example of a “massive fandom.” Citing Swift’s recent “Eras” world tour, it noted that “the economic impact generated in major North American cities ranged from $50 million to $70 million.” While Swift has demonstrated powerful economic influence, strong enough to inspire the term “Swiftonomics”, the comparison suggests that “BTS-nomics” may surpass it.
In Korea, various attempts are also being made to quantify the economic impact of BTS’s return.
Kim Yoo-hyuk, an analyst at IBK Investment & Securities, recently estimated in a report that the expected revenue from this comeback could reach at least 2.9 trillion KRW. This estimate is based on projected sales of 6 million copies of their fifth full-length album “Arirang” and a world tour audience of 6 million people, and he emphasized that this is a “conservative estimate.” Expanding the scope globally, the economic impact grows to astronomical levels.
Meanwhile, the Korea Culture & Tourism Institute published a 2022 report titled “The Economic Ripple Effect of BTS Domestic Concerts in the Post-COVID Era,” estimating that a single BTS concert in Korea could generate up to 1.2207 trillion KRW in economic impact.
Industry insiders also project that BTS’s upcoming world tour, expected to span 34 cities with 82 performances, could generate a total economic effect of up to 100 trillion KRW.
키도 큰데 힐까지 신었네 사건 : 2018년 BMA 백스테이지에서 테일러 스위프트와 사진 찍은 방탄소년단의 멤버 슈가가 자리에 없는 테일러 스위프트를 향해 키도 큰데 힐까지 신었다고 한 사건이다. https://t.co/eNbRfJNjEy
— 김말복 (@891213lover) August 9, 2024
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