Report: How Musical Events are Shaping the Global Tourism Scene in 2024

Coldplay in Rome. Photo source: Coldplay

While Taylor Swift continues to captivate the world with her sold-out performances and undeniable talent, a comprehensive analysis by The Data Appeal Company– part of Almawave Group, reveals that other major musical events are making significant contributions to local economies and the international tourism landscape in 2024.

This analysis of three prominent events highlights the music industry’s broad impact, showing how hosting such events attracts visitors, boosts local businesses and the hospitality industry, and creates a positive feedback loop through social media promotion.

The Data Appeal Company collects and analyzes data from various Online Travel Agencies (OTAs), including major players like Booking.com and Expedia, to provide a comprehensive view of travel destinations.

This data, along with spending figures, is sourced from The Data Appeal Company’s core platform, D/AI Destinations, which is utilized by international tourism boards and cities. This study is based on studying the impact of these events-multiple dates concerts and music festivals- on local economies and tourism during the specified dates:

– Coldplay in Rome on July 12, 13, 15, and 16, 2024;

– Adele in Munich on August 2, 3, 9, 10, 14, 16, 23, 24, 30, and 31, 2024;

– and Rock in Rio (a music festival) in Rio de Janeiro from September 13 to 15 and 19 to 22, 2024.

Economic impact highlights

The analysis reveals significant economic impacts from these major musical events, highlighting how these performances stimulate local economies through increased spending on accommodation and other services.

These events not only attract large audiences but also drive substantial changes in hospitality and short-term rentals occupancy rates and prices. The following sections detail the economic effects observed from key events featuring prominent artists like Adele, Coldplay, and the Rock in Rio festival, showcasing their influence on the cities they visit.

Photo source: The Data Appeal Company

– Adele in Munich: Adele’s exclusive European performances in Munich, held at a specially constructed open-air arena at Messe München set to accommodate up to 80,000 people, are drawing crowds and driving up hotel prices. The events have already caused a significant increase in hotel rates by up to 110 percent when compared to weekday prices during August, despite the concert still not being sold out. These concerts are anticipated to have a substantial impact on the local economy, especially considering Adele’s potential pause in touring following these dates.

– Coldplay in Rome: Coldplay’s concerts in Rome have drawn approximately 70,000 attendees and generated an estimated spending of over 17 million euros. The audience size and spending highlights the widespread appeal and economic benefits of Coldplay’s performances.

– Rock in Rio: This remains a heavyweight in the global festival scene, expected to attract over 700,000 attendees. Despite varying OTA saturation, with many properties opting for direct bookings, the event has already influenced a 93 percent increase in accommodation rates.

Spending breakdown by event

Adele in Munich. Photo source: Adele

The data shows that fans of Coldplay allocate a significant portion of their spending towards accommodation, spending 54 percent on lodging. In contrast, attendees of Rock in Rio and Adele’s concerts spend a lesser percentage of their total spend on accommodation, with both groups allocating only 22 percent of their expenses in this category.

When it comes to food and beverages, Rock in Rio leads with attendees dedicating 62 percent of their spending to this category, followed by Adele’s fans who spend 53 percent. This indicates that food and beverage experiences are a significant part of the appeal for these events. Meanwhile, Coldplay fans spend 42 percent on food and beverages, indicating a relatively balanced distribution of spending between accommodation and dining.

Photo source: The Data Appeal Company

Transportation expenses also vary among these groups. Adele’s concerts see the highest transportation spending at 25 percent, suggesting a greater need for travel among her fans, possibly due to the location or the specific nature of the venue setup. Rock in Rio attendees spend 16 percent on transportation, while Coldplay’s fans spend much less, at 4 percent, likely due to closer proximity of accommodations to the event venue. These figures highlight the diverse priorities and spending patterns of audiences attending different events.

“Events of this scale not only attract thousands of visitors but also bring significant economic benefits to the host destinations,” said Mirko Lalli, CEO of The Data Appeal Company, adding that this says a lot about how much tourist destinations should invest in an optimal calendar of international artist dates, now capable of attracting overseas fans as well.

This analysis underlines the importance of the music sector in shaping the tourism and economic landscape of major international cities. The impact of these events extends beyond entertainment, influencing local businesses and hospitality industries, and showcasing the necessity for careful planning and sustainable practices in hosting such large-scale events.

“Sustainability must be at the center of every event planning and management initiative to ensure that these can continue to be a valuable resource for tourism without compromising the well-being of host destinations,” Lalli remarked.

The average age of visitors

Rock in Rio in Lisbon. Photo source: Rock in Rio

In a similar study, Mabrian, part of The Data Appeal Company, conducted recent research on how the average age of visitors to Madrid and Seville varied during Taylor Swift and AC/DC concerts held in the same week (Swift in Madrid, AC/DC in Seville), compared to the same days last year. This analysis utilized the distribution of tourist reviews on social networks during these events.

The findings showed that in Madrid, 26 percent of tourist conversations during the concert dates were from individuals under 34 years old, indicating a four percentage point increase in visitors under 35 compared to the same period in 2023. In Seville, there was a significant rise in visitors over 55 years old, with a nine percentage point increase compared to the previous year, as 17 percent of tourist conversations were from this age group.

“These insights highlight the importance of accurately measuring the impact of musical tourism, given its complex nature,” highlighted Carlos Cendra, Partner & Director of Marketing and Communications at Mabrian.

“This information is crucial for developing strategies to attract music shows that align with specific tourism goals.”