American pop star Taylor Swift has yet to arrive but the knock-on effects of her upcoming stop in Singapore are already being felt and are likely to be wide-ranging.
Hotels and airlines told CNA that demand for flights and accommodation around the dates of Swift’s concerts has increased up to 30 per cent.
Earlier this week, the Singapore Tourism Board (STB) said it provided a grant to help bring Swift’s Eras tour to the country next month, her only stop in Southeast Asia.
“It is likely to generate significant benefits to the Singapore economy, especially to tourism activities such as hospitality, retail, travel and dining, as has happened in other cities in which Taylor Swift has performed,” said the tourism board and the Ministry of Community, Culture and Youth (MCCY) in a joint statement.
But what are these benefits to the local economy and does it make financial sense for the country to give a grant?
According to one expert, Swift’s concerts in Singapore could generate revenue in the ballpark of and possibly exceed the estimated A$1.2 billion (US$787 million) in economic value from her time in Melbourne.
Singapore is one of two stops in Asia for Swift, having performed four shows in Tokyo earlier this month. The star has sold out all six of her shows here, which will be held starting from Mar 2.
More than 300,000 tickets have been sold, with a “significant” number of fans travelling from other countries, said MCCY and STB.
FLIGHT, HOTEL BOOKINGS UP
Demand for flights to Singapore on both Singapore Airlines and Scoot has increased in March, particularly from Southeast Asia, the airlines said.
Jetstar Asia said demand has risen by 20 per cent for routes connecting destinations like Bangkok, Manila and Jakarta to Singapore, during the period when Swift is performing.
Hotels contacted by CNA said they also have seen an uptick in demand.
Cavaliere Giovanni Viterale, cluster general manager for Raffles Sentosa Singapore and Sofitel Singapore Sentosa Resort & Spa, said that when there are major concerts featuring internationally acclaimed performers such as Taylor Swift, their fans contribute “significantly” to hotel reservations.
“The demand from international visitors cum concertgoers continues to have a positive impact on our resort’s occupancy, which will be at peak levels from early March onwards,” he said.
Mr Viterale added that the majority of the reservations originate from Southeast Asia.
M Hotel Singapore’s general manager Edeline Tiong said that it had observed a spike in demand in local hotel bookings during the first two weeks of March in anticipation of the concerts. Ms Tiong added that the hotel is seeing a 30 per cent increase in demand from Southeast Asia.
Similarly, there also has been an increase of 20 to 30 per cent in demand from Southeast Asia at One Farrer Hotel, said its general manager Gilbert Madhavan.
“We have experienced a significant spike in demand during the period Taylor Swift is performing in Singapore, with a significant number of the bookings coming from our Marriott Bonvoy members in Southeast Asia and beyond,” added Westin Singapore. – Reuters
