Music tourism projected to hit $267bn by 2030

The music tourism market is projected to reach US$267.85 billion by 2030, according to a new global report.

Conducted by Grand View Research, the 110-page document profiles companies including Glastonbury Festival, Tomorrowland, Lollapalooza, AEG Presents, Ticketmaster, Live Nation Entertainment and more to produce market estimates and forecasts from 2018 to 2030.

It found that the music tourism market – which encompasses travel to concerts, music festivals, or heritage music sites – was valued at $96.78 bn in 2024 and is expected to rise at a CAGR of 18.8% in the next five years.

The report notes a rising demand for music tourism among individuals aged 18-34 (which predominantly comprises Millennials and Gen Z) who have a “strong inclination toward experience-driven consumption, wherein cultural, emotional, and social experiences are prioritised over material possessions”.

As a result, concerts are no longer isolated events but are positioned as part of larger travel and cultural itineraries, often supported by tourism boards and city governments, it says.

Last year, Singapore struck an exclusivity deal with Taylor Swift and her promoters to make the island nation her only Eras tour stop in Southeast Asia. Those shows, along with concerts from Ed Sheeran, Coldplay and more, helped drive tourism in Singapore to record heights last year.

“Concerts are no longer isolated events but are positioned as part of larger travel and cultural itineraries”

In another high-profile case, it emerged that the Western Australian government paid A$8 million to subsidise two Coldplay concerts in 2024.

The band played two nights at Perth’s Optus Stadium – their first gigs in Western Australia since 2009 – in November 2023 as part of their Music of the Spheres World Tour, in what was hailed as a “major tourism coup” for the country’s fourth most populous city.

Presented by the WA government, through Tourism WA, and Live Nation, the Australian-exclusive gigs were promoted alongside hotel packages designed to encourage visitors to stay longer in Perth and explore the region further, creating additional economic benefits.

A Guardian report revealed that $8m (€5m) was paid to Live Nation in relation to the performances, which Tourism WA said injected “tens of millions of visitor spend” into the state’s economy.

Big names and festival brands such as Beyoncé, The Weeknd, Harry Styles, Blur, Glastonbury, Boomtown and TRNSMT also helped increase UK tourism by 33% in 2023.

As A-list tours become increasingly hot commodities for governments, smaller markets are also vying for a piece of the action. The Malaysian government is offering financial incentives for promoters to bring international stars to the country to boost event tourism, while China’s Hainan Province announced its intention to become an “international performing arts capital”.

“BTS fans often travel thousands of miles just to attend their performances, underscoring the global nature of music tourism”

Grand View Research’s Music Tourism 2025 report also credits festivals with a rise in music tourism, noting that the rise of international franchises “has transformed music tourism into a year-round, globally mobile industry”.

Ultra Music Festival is used as a prime example. Originally based in Miami, international editions are now held in South Korea, Croatia, Brazil, South Africa, and Australia.

“By holding festivals in multiple regions, Ultra expands its global footprint and enables more tourists to participate in the event,” says the report. “For example, in South Korea, the event is marketed as a major tourism attraction that brings in thousands of international visitors, contributing to the country’s image as a music and cultural hub.”

The rise of digital streaming platforms such as Spotify, Apple Music, and YouTube is also a factor in the growth of music tourism, “as fans now have a wider array of artists to follow, leading to travel to concerts and events to experience them live,” the report says.

BTS is named as one of the most notable drivers of music tourism via digital platforms. “Their fans often travel thousands of miles just to attend their performances, underscoring the global nature of music tourism,” it adds. “The demand for these concerts is a testament to how digital engagement through platforms like YouTube and V Live can directly lead to increased international travel.”

Read the full Music Tourism 2025 report here.

Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Read More Like This

News|12 Feb 2025

Singapore credits mega gigs for record tourism

Concerts from Taylor Swift, Coldplay and Ed Sheeran helped boost tourism spending to record heights last year

News|27 Jan 2025

Buoyant year projected for Danish live market

Venues and festivals in Denmark are projected to welcome a record 2.65m fans over the next 12 months, according to a new study

News|27 Mar 2025

Stages to silver screens: The rise of the concert film

Key players in the concert cinema space discuss how artists are using the medium to deliver their tours to audiences beyond those sat in venue seats

News|24 Apr 2025

Malaysia offers incentives to attract global stars

The government has pledged an annual grant to support large-scale concerts – but has revised its guidelines for international acts