The concert economy is gaining attention worldwide, with recent statistics from Mastercard highlighting its significant impact on Kaohsiung’s tourism and hospitality sectors. During the 2023 BLACKPINK and Coldplay concerts, Kaohsiung saw a nearly 54% increase in overall tourism and accommodation spending, with the spillover effect driving up local dining and hotel consumption by up to 173%.
Mastercard’s survey of Taiwanese consumer behavior trends reveals that more than 60% of respondents have attended concerts, and 65% have traveled across counties, cities, or countries for these events. Notably, 82% of concert-goers used credit cards for ticket purchases, with 44% expecting benefits such as priority ticket access and exclusive seating.
The data analysis from Mastercard’s team focused on large-scale concerts in Kaohsiung, demonstrating substantial economic benefits. During these events, the average spending in Kaohsiung’s hotel and catering industries surged by 54%, and transaction numbers in the catering sector rose by 8%.
The BLACKPINK concert in March 2023 exemplified this trend, with the Zuoying District experiencing a 52% increase in tourism and accommodation spending. Adjacent areas like Nanzi District and Xinxing District saw even more dramatic increases of 173% and 71%, respectively. Catering transactions increased between 5% and 25%, showcasing the broader economic uplift driven by concerts.
Mastercard’s findings suggest that concerts serve as a vital economic catalyst, encouraging local governments to integrate these events with existing tourism resources. This strategy can help maximize the economic benefits across more areas.
In conjunction with these findings, Mastercard announced a global partnership with Live Nation to introduce exclusive concert benefits in Taiwan. Starting this year, Taiwanese cardholders will enjoy privileges such as priority pre-sale tickets and exclusive seating, in collaboration with DBS Bank (Taiwan). This initiative aims to enhance the concert experience for fans while further boosting local economies.
