Coldplay Tour to Pump Up Hong Kong Concert Economy, Forecasters Say
Hong Kong’s Concert Industry Poised to Bounce Back Strong
Hong Kong’s concert economy, once among Asia’s leaders, is poised to bounce back strongly on the heels of British rock band Coldplay’s upcoming concert in the city.
Coldplay’s Global Appeal to Drive Concert Ticket Sales, Hotel Bookings
The band's "Music of the Spheres" world tour will stop in Hong Kong on September 30 at the AsiaWorld-Expo Arena.
Analysts expect the concert to boost ticket sales, hotel bookings, and spending in the city's restaurants and retail stores.
Economic Impact of Coldplay Tour Expected to Be Significant
According to a report by the Hong Kong Tourism Board, the concert is expected to generate HK$380 million (US$48.6 million) in economic activity.
This includes HK$150 million in ticket sales, HK$100 million in hotel bookings, and HK$130 million in spending on dining, shopping, and other activities.
Government Support for Hong Kong's Concert Industry
The Hong Kong government is keen to support the city's music industry and has implemented various measures to help it recover from the impact of the pandemic.
These measures include providing subsidies for concert organizers and waiving venue rental fees for non-profit events.
Coldplay Tour Seen as a Catalyst for Hong Kong's Concert Renaissance
Industry experts believe that Coldplay's concert will be a catalyst for Hong Kong's concert industry to regain its former glory.
They point to the band's global popularity, strong fan base in Hong Kong, and the high production value of their live shows.
Other Upcoming Concerts to Boost Hong Kong's Music Scene
In addition to Coldplay, several other major concerts are scheduled to take place in Hong Kong in the coming months.
These include concerts by K-pop boy band BTS, American singer-songwriter Taylor Swift, and British singer-songwriter Ed Sheeran.
Positive Outlook for Hong Kong's Concert Industry
The outlook for Hong Kong's concert industry is positive, with analysts predicting that the sector will continue to grow in the coming years.
This growth is expected to be driven by the increasing popularity of live music, the growing number of international artists performing in Hong Kong, and the government's support for the industry.
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