India's Concert Economy: A Triple Win For Tourism

The impact of these concerts has been so significant that Prime Minister Narendra Modi has championed the idea of the concert economy, emphasising India's potential as a hub for live entertainment. This forward-thinking move could further elevate India's tourism landscape. By strengthening its global entertainment appeal, India benefits in three key ways.

 Just over a year ago, on February 3, 202,4, Agoda's booking data indicated that Bangkok hotels welcomed the highest number of Indian tourists in a single day in over a year. What made this seemingly random Saturday the most booked date for Indian travellers, surpassing holidays like New Year's Eve or the Republic Day long weekend?

The answer was that Coldplay was in town. The band's lead singer, Chris Martin, even gave a shoutout to the many Indian fans who packed Bangkok's Rajamangala Stadium that weekend. Fast forward to this year, and the buzz has shifted closer to home. Ahmedabad and Mumbai still feel the benefits of Coldplay's landmark concerts, while Lollapalooza has managed to attract artists like Green Day and Shawn Mendes. Ed Sheeran recently wrapped up a six-city tour that drew fans to Pune, New Delhi, Hyderabad, Chennai, Bengaluru, and Shillong. Global mega acts are discovering India as a true entertainment paradise. The impact of these concerts has been so significant that Prime Minister Narendra Modi has championed the idea of a concert economy, emphasising India's potential as a hub for live entertainment. It is a forward-thinking move that could further elevate India's tourism landscape. By strengthening its global entertainment appeal, India stands to benefit in three key ways:

 Domestic Travel for Global Experiences

For years, Indian firms eager to see their favourite artists live had no choice but to travel abroad. And they did so enthusiastically. We already mentioned the appeal of Coldplay's 2024 Bangkok concerts. More recently, when Lady Gaga announced her exclusive concert series in Singapore, Agoda's data showed a 71% increase in accommodation searches from India compared to the two weeks preceding the announcement.

But the tide is turning. Coldplay's January 2025 concerts in Mumbai generated 33 times more domestic accommodation searches on Agoda's platform than the week before the announcement. By hosting these mega acts, India can retain this travel demand within its borders. Fans no longer need to book flights to Singapore or Bangkok; they can experience world-class performances at home.  This shift saves on travel for fans and boosts local economies by boosting hospitality, transportation, and dining. It is a win-win for music lovers and businesses alike.

 Attracting International Visitors

Global superstars don't just draw local fans; they attract international visitors eager to experience India alongside the concerts. During Coldplay's Mumbai concerts, Agoda's data revealed that the top five global markets searching for accommodation were France, the United Arab Emirates, the United Kingdom, Spain, and Australia. The potential ripple effect of such events is undeniable. International visitors contribute to India's economy by spending money on hotels, restaurants, and local attractions. They also discover India as a tourist destination and share their experiences once they return home, creating opportunities for repeat visits and long-term tourist growth.

India's affordability is a key advantage here. Concerts Taylor Swift's record-breaking Eras Tour: some American fans opted to attend her Buenos Aires concert instead of a US show, combining a holiday with the concert experience while saving money. Similarly, India is well-positioned to attract visitors from Europe and beyond, offering unforgettable performances alongside the chance to explore the country's rich culture and heritage. All at an affordable price.

 Building Entertainment Soft Power

Hosting global acts and improving event infrastructure lay the foundation for India to capitalise on its entertainment soft power. India's music scene is thriving, with artists like Arijit Singh, Hanumankinf Diljit Dosanjh, AR Rahman Prateek Kuhad, and WISH commanding massive followings. The potential is immense. South Korea's K Pop phenomenon has evolved into a global cultural movement driving tourism exports and economic growth. India's music market is already the second-largest audio streaming market globally, behind only the US, according to Luminate data. With the right investments in infrastructure and promotion, India could amplify its cultural influence on the global stage.

 Economic Impact and Growth

The numbers speak for themselves. Coldplay reportedly generated Rs 600 crore in revenue from their India concerts, showcasing the economic potential of hosting global acts. Meanwhile, the FCCI EY report titled #Reinvent India's media and entertainment sector is innovating for the future revealed that the India  Mand E sector grew by 8% in 2023, reaching INR 2.3 trillion, 21