We know Taylor Swift concerts generate billions in consumer spending. And we now know that countries are willing to pay dearly for this advantage, at the cost of letting their neighbors miss out. Earlier this week, Singapore Prime Minister Lee Hsien Loong confirmed that the country's tourism board paid an undisclosed sum, estimated at nearly $3 million for each of six sold-out shows, to making the island the only Southeast Asian stop on Swift's Eras World Tour. . Here's what you need to know:
- For what? Singapore's economy is expected to receive a $370 million boost during the week Swift was in the country, according to Quartz, which calls the agreement a “masterclass in gig economics”. More than 300,000 concert tickets were sold in Singapore, per Asia News Channelwhich reports that demand for flights and hotels has increased by 30%.
- Bad blood: This provoked backlash from Singapore's usually friendly neighbors. “If I had known this, I would have brought these shows to Thailand,” Thai Prime Minister Srettha Thavisin said last month, according to the newspaper. Bangkok Post. Hong Kong Chief Executive John Lee spoke of “competing with different cities” to host mega-events, according to NPRwhile Filipino lawmaker Joey Salceda claimed that Singapore operated under “the law of the jungle”, which is not “what good neighbors do”, according to Inquirer.net.