UK music tourism hits record £ 10 bn in 2024

Music tourism in the UK reached a record £10 billion in 2024, attracting 23.5 million music tourists, including big names such as Taylor Swift, Charlie XCX, and Bruce Springsteen. This bounce represents a 25% increase from 2023, which incurs significant expenses for music, festivals, and related services. However, challenges remain, including increasing touring costs and the closure of websites.

Music tourism contributed a record £10 billion to the UK economy last year as fans flocked to live shows by Taylor Swift and other major acts, industry data from UK Music revealed on Tuesday.

"Charli XCX, Bruce Springsteen, Sam Fender and Dua Lipa helped lure a record 23.5 million music tourists to concerts and festivals," UK Music added. Both figures were up by around one quarter compared to 2023, while the vast majority of tourists were fans traveling from other areas of the UK.

"Taylor Swift's Eras Tour helped drive the 2024 figures to a new high with legions of overseas tourists coming to the UK to see the stars and enjoy concerts and festivals including Glastonbury," it added.

UK Music said this year's Oasi reunion tour, starting in Cardiff on Friday, "will hopefully continue the success story". Looking at the total 2024 spending, GBP 5.1 billion came from music tourists attending concerts and festivals in the UK, including the cost of tickets, travel, and accommodation, the study showed.

"A further GBP 4.9 billion was spent indirectly through the value chain, including costs such as fencing and security," it said. UK Music noted that 'local music ecosystems stimulate through the value chain, including costs such as fencing and security,' it said.

UK Music noted that "local music ecosystems stimulate the economy by boosting footfall, powering the hospitality and retail sectors and creating vibrant places that attract residents, visitors and investment."

Its chief executive, Tom Kieh, warned, however, of several challenges facing the sector, "such as the rising cost of touring for artists and the threat of closure looming over venues, studios and other music spaces."

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UK Music Tourism Hits Record £ 10 Bn In 2024

News Source : Economic Times