BTS held a free concert in mid-October in Busan to promote World EXPO 2030. Economic impact analysis data of BTS' Busan concert was recently published by KNN News.
As expected, the impact of BTS on the economy of Busan and Korea shows the huge power in all aspects that the group brings. Experts also say that the economic impact of BTS does not stop at this huge number, but also increases significantly over time.
BTS had a fiery performance at Busan's Asiad main stadium in October. The group has continuously performed their best songs with the participation of many ARMYs watching live.
In addition, because the program is broadcast live, the number of viewers cannot be counted. Of course, one can completely see how huge the influence of BTS is when turning Busan into purple. The amount of people flocking to Busan for a concert night also proves the top reputation of world-class K-pop stars.
Not only that, specific numbers were also compiled after the concert. Specifically, in today's news, KNN reported on the huge influence BTS has had on Busan's economy as well as the impressive numbers BTS has attracted to this city.
Busan concert is expected to have an added value impact of ₩1.2 trillion ($911.8M). This is the number given based on the big data research using cell phone and credit card data conducted by Busan’s city government.
Not only that, according to the results of the analysis of KT and BC card information, it was found that about 503,000 people from other regions visited Busan in the 10 days before and after the show (October 10 - 20). About 358,000 women and 145,000 men visited, increase up to 252,000 and 48,000 respectively compared to normal day. By region, the number of arrivals from Seoul was 74,700, 10 times more than usual, and Gyeonggi-do was 54,200.
On the day of the concert, Japan had the largest number of foreign visitors with 314,000, followed by China with 241,000 and the United States with 138,000. Besides, according to the analysis of the consumption situation of tourists to Busan, it is found that teenage women consume the most. It is investigated that they are mainly consumed in the tourism and food industries in general.
In the past, the Ministry of Culture, Sports and Tourism had analyzed that if the number of overseas visitors is more than 50%, just one BTS concert’s economic impact will be up to ₩1.2T. Approximately, 2/3 of the visitors to the Yet To Come in Busan concert were from overseas. Even with this particular concert being free, the added value from tourism is expected to reach ₩1T ($759.9M).
The Busan City Government plans to do more research using more data to analyze the consumption patterns of overseas fans and the actual inflow economic effect of the BTS concert.
But, in general, BTS really brought values not only in economic terms but also in reputation and potential to help Busan government have a competitive advantage in organizing World EXPO 2030. Only 1 concert night, BTS has brought In terms of hundreds of millions of dollars in benefits, the power of BTS and the ARMY fandom is truly remarkable.
