A Study of How Concerts Can Be Used to Promote Economic Growth

Abstract

With The Era’s Tour becoming more and more popular, it seems that concerts are being paid more and more attention than ever. However, their economic potentials are extremely under-discovered. This article will discuss how powerful and effective concerts are for economic growth. This article will discuss the topic from the different economical aspects a concert possesses, including how profitable they are, how the profitability will affect economic growth, and how the government can make good use of the profitability. The article finds out that concerts can be very helpful when it comes to economic growth because they can increase consumer spending. Concerts can also promote growth in other industries like tourism because for some people, they may have the need to travel for a concert. The government should make good use of concerts to promote economic growth by inviting and helping artists touring and supervising all aspects of touring, especially the pricing of the tickets and the security.