While Taylor Swift continues to dominate headlines with her sold-out tours, a comprehensive analysis by The Data Appeal Company reveals the substantial economic contributions of other major musical events in 2024. The study, which examined the impact of Coldplay’s concerts in Rome, Adele’s performances in Munich, and the Rock in Rio festival in Rio de Janeiro, highlights how these events attract visitors, stimulate local businesses, and boost the hospitality industry.
The Data Appeal Company, a part of the Almawave Group, leverages data from various Online Travel Agencies (OTAs) like Booking.com and Expedia to provide a comprehensive understanding of travel destinations. This data, combined with spending figures, is sourced from their core platform, D/AI Destinations, which is used by international tourism boards and cities.
The analysis reveals that these musical events generate substantial economic impacts, with attendees spending significantly on accommodation, food, and transportation. For instance, Coldplay’s concerts in Rome drew approximately 70,000 attendees and generated an estimated spending of over €17 million. Adele’s exclusive European performances in Munich, held at a specially constructed open-air arena, have already driven hotel prices up by 110% compared to weekday prices, even though the concerts haven’t yet sold out. Rock in Rio, a global festival heavyweight, is expected to attract over 700,000 attendees and has already influenced a 93% increase in accommodation rates.
The study also delves into the spending patterns of attendees, revealing diverse priorities among fans of different artists and events. Coldplay fans allocate a significant portion of their spending towards accommodation (54%), while Rock in Rio and Adele attendees spend a lesser percentage (22%) on lodging. Food and beverage experiences are a significant draw for Rock in Rio attendees, who dedicate 62% of their spending to this category, followed by Adele’s fans at 53%. Coldplay fans exhibit a more balanced distribution of spending between accommodation and dining (42%).
Transportation expenses also vary across these events. Adele’s concerts see the highest transportation spending at 25%, likely due to the location and venue setup. Rock in Rio attendees spend 16% on transportation, while Coldplay’s fans spend significantly less at 4%, possibly due to closer proximity of accommodations to the event venue.
Mirko Lalli, CEO of The Data Appeal Company, emphasizes the importance of data collection and analysis for tourist destinations to understand visitor behavior and tailor future events to maximize economic benefits. However, he also cautions about the potential environmental and social impacts of large-scale events, highlighting the need for sustainable practices and strategic management to ensure the well-being of host destinations.
In a separate study, Mabrian, another member of The Data Appeal Company, investigated the demographic changes during Taylor Swift and AC/DC concerts in Madrid and Seville, respectively. The findings revealed a four percentage point increase in visitors under 35 years old during Taylor Swift’s concerts in Madrid, while Seville saw a nine percentage point increase in visitors over 55 years old during AC/DC’s performances.
Carlos Cendra, Partner & Director of Marketing and Communications at Mabrian, stresses the importance of understanding these nuances in musical tourism to optimize destinations’ appeal and economic benefits. He argues that destinations need to accurately measure the impact of musical tourism and develop strategies to attract events that align with their specific tourism goals. This data is crucial for making informed decisions about campaign strategies and attracting high-value travelers.
The analysis presented by The Data Appeal Company underscores the significant role of the music sector in shaping the tourism and economic landscape of major international cities. These events go beyond entertainment, influencing local businesses and hospitality industries, and highlighting the importance of planning and sustainable practices for hosting large-scale events. By understanding the impact of music events, destinations can maximize their economic benefits while ensuring the well-being of their residents and the environment.
