Taylor Swift concerts likely to generate major benefits for Singapore economy, govt responds to exclusivity claims

Taylor Swift's coming to Singapore next month and she's bringing 'Swiftonomics' along with her.

Her concerts are "likely to generate significant benefits to Singapore's economy, especially to tourism activities such as hospitality, retail, travel and dining, as has happened in other cities in which Taylor Swift has performed," the authorities said on Tuesday (Feb 20).

Over 300,000 concert tickets have been sold with a significant number of fans travelling in from other countries, the Singapore Tourism Board (STB) and Ministry of Culture, Community and Youth (MCCY) said in a joint statement.

The American singer-songwriter will hold six shows at the National Stadium from March 2 to March 9.

Recognising significant local and international demand for the singer to perform in Singapore, MCCY and KASM worked directly with concert promoter AEG.

STB also supported the project by providing a grant, although the size and conditions were not specified, CNA reported.

On Feb 16, Thai prime minister Srettha Thavisin said AEG had informed him that the Singapore government offered subsidies of up to US$3 million (S$4 million) per show in exchange for exclusivity in Southeast Asia during her Eras Tour, Bangkok Post reported.

Responding to these reports, Hong Kong chief executive John Lee said: "We'll strive to [host the mega events].

"We know that we'll be competing with different cities, so we'll ensure that we're attractive and competitive enough... We'll work on that regard."

Meanwhile, Indonesia's tourism minister Sandiaga Salahuddin Uno said that 'Swiftonomics’ can boost tourism, which attracts tourists to stay longer and spend more. 

The Indonesian government is considering more incentives to bring in music, sports and cultural events, Bloomberg reported.

Singapore has much to offer: MCCY, STB

Since the government took back the Singapore Sports Hub, KASM, a wholly owned entity under MCCY, has been working to make it more accessible and vibrant for all Singaporeans, MCCY and STB said on Tuesday.

Under their management, the Sports Hub has hosted a wide range of programmes, from live sports to live entertainment events.

KASM also makes use of its strong global relationships, and the multi-disciplinary experiences and expertise of their team.

"Singapore has much to offer as a destination for large-scale international events, with our strategic location, quality infrastructure, safety, efficiency and diverse cultural offerings," the authorities said.

"KASM will continue to actively bring a range of diverse lifestyle and entertainment offerings to the Sports Hub."

ALSO READ: Singaporean man gives away his $2,500 Taylor Swift concert tickets to person with the best 'love story'

chingshijie@asiaone.com