BTS only needs to hold 10 concerts, the Korean economy will benefit an unbelievable amount of money

BTS has proven their class in the entertainment industry when each of their concerts has a significant impact on the Korean economy

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Up to now, BTS is definitely one of the most successful names in the Korean entertainment industry. The global group asserted its popularity through “sold-out” concerts with hundreds of thousands of seats in the blink of an eye. Along with that is the huge profit that every artist desires.

On March 21, a report by the Korea Institute of Culture and Tourism made the comment, “If BTS holds a concert in Korea in the post-COVID-19 period , the nation’s economic growth will from 677.6 billion won ( 12.5 trillion dong ) to 1.2 trillion won ( 22.2 trillion dong ) for a concert “. That is, if BTS holds concerts 10 times a year in Korea, it will have a very strong impact on the country’s economy.

It is known that this estimate is based on the research results of the Cultural Industry Research Center, under the Korean Cultural Tourism Research Institute. Experts have analyzed the economic impact of a concert including tickets, sales of accompanying products, travel spending, travel and accommodation costs of foreign tourists when coming to Korea because of BTS.

Specifically, if the percentage of foreign tourists increases to 50%, BTS’s concert spending demand will be 742.2 billion won (13.7 trillion VND ), product sales will be 1.2 thousand . billion won (VND 22.2 trillion) and the added value effect is 570.6 billion won ( VND 10.5 trillion ), plus the number of staff for the concerts is 18,815 people.

In the case of BTS’ concert in Seoul, South Korea in March this year, due to the requirements of disease control, only 15,000 spectators/per session out of 65,000 spectators (estimated) met the requirements to see the concert. . If 65,000 spectators are restored, the impact of BTS concerts on the economy will be enormous.