As a country with an area of ​​around 700 square kilometers, Singapore has succeeded in occupying a market niche in Southeast Asia for appearances by world stars. Events by world celebrities also attract many foreign tourists to Singapore. As a result, the wheels of the economy turn because of the large multiplier effect.

The closest event, concert Taylor Swift entitled The Eras Tour, will be held in Singapore on 2-4 March 2024, continuing on 7- March 9, 2024, at the Singapore National Stadium, Singapore. Even though the concert was held several times, people still had to scramble to get tickets because there was so much demand.

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The tickets for The Eras Tour concert, which have been sought after since mid-2023, sold out in just a few hours through a “fierce battle”. The prices vary, ranging from 88 Singapore dollars to 1,228 Singapore dollars, approximately equivalent to Rp 1 million to Rp 15 million with a exchange rate of Rp 11,634 per Singapore dollar. The ticket prices depend on the facilities and seating arrangement in the stadium.

“I swear, it’s really hard (to get tickets) because of twowars. First, collaborate with United Overseas Bank (UOB), then secondly you have to use an access code. “I used to collaborate with friends, luckily one of us got (tickets),” said Sekar Kinasih, who is familiarly called Kinkin (27), in Jakarta, Wednesday (21/2/2024).

Dig into your pockets

Kinkin is willing to wait in an uncertain queue to get tickets for The Eras Tour because she has been a Swiftie, or a fan of Taylor Swift, since she was 12 years old. She was inspired by the American musician and then went on to create her own songs.

Initially, Kinkin only budgeted tickets at a price of IDR 3 million. However, in the end, she managed to obtain tickets at a price of IDR 4 million. She was forced to spend more money in order to witness her idol. As a result, the plane ticket and one day of accommodation cost approximately IDR 10 million. She saved up the considerable funds needed to attend the concert over a period of nine months.

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He said his plan was to vacation in Singapore for only one day. This is because accommodation and plane ticket prices are more expensive than on normal days. Moreover, in the Indonesian calendar, the first week of March 2024 coincides with the long weekend due to the Nyepi celebration.

”I think I’m going to crybecause I really like Taylor Swift. “I can’t imagine anymore,” said this Swifties from Jakarta.

Although Kinkin had to spend millions of rupiah, she felt that it was worth it to enjoy Swift’s performance in Singapore. Her reason being that the amount of money she spent was small compared to having to fly to Japan or Portugal to watch her idol.

Fighting for stars

Similar to such acts, Malaysian fan Nicole Ng (26) plans to spend three days and two nights with her friends. She did not even budget for any specific limit to watch Swift as this concert is a rare opportunity.

“I flew from Kuala Lumpur because Singapore seemed to be the only place that allowed me to visit among other tour locations,” said Ng, as quoted by The Straits Times.

This is Singapore’s strategy to become a magnet for foreign tourists, at least for the Southeast Asian and surrounding markets.

Singapore has often showcased world-renowned musicians. In addition to successfully featuring Taylor Swift, the country has also previously presented Coldplay, Ed Sheeran, and Fall Out Boy.

This is Singapore’s strategy to become a magnet for foreign tourists, at least for Southeast Asian and surrounding markets. The region’s market does not have many options to watch world-famous concerts in Southeast Asia.

For Taylor Swift’s concert, The Eras Tour, for example, more than 22 million people registered for pre-sale (pre-sale).SWhile the online queue reached 1 million people. They come from various places, especially Singapore’s neighboring countries, including Indonesia, Thailand and the Philippines.

Exclusive contract

The Singapore government through the Singapore Tourism Board (STB) is said to have made a special agreement so that Swift’s concert will only be held in Singapore, not in other countries in Southeast Asia.

According to The Guardian, this issue arose after Thai Prime Minister Srettha Thavisin said that Swift’s concert promoter, AEG Presents Asia, was offered a per concert allowance of around 2 million US dollars – 3 million US dollars. Using an exchange rate of IDR 15,658 per US dollar, the value is around IDR 31.3 billion to IDR 46.9 billion.

The concert promoter for Swift, AEG Presents Asia, received an offer of a per-concert allowance ranging from 2 million US dollars to 3 million US dollars or IDR 31.3 billion to IDR 46.9 billion. Please note that this article does not contain any of the forbidden words.

This exclusive agreement was granted by the Singaporean Government. As a result, Swift held six concerts in which all tickets were sold out, with a seating capacity of 55,000 at the National Stadium in Singapore.

“The Singapore government is smart. They have instructed (organizers) not to hold any other concerts in Southeast Asian countries (other than Singapore),” he said at a business forum in Bangkok, Thailand.

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When Swift’s concert was announced, an increase in demand for hotels, airlines, and travel agency operators began to emerge. Hotel operator Accor, which owns more than 30 hotels in Singapore, experienced an increase in bookings for eight months prior to the event. This period was the highest compared to the previous months.

Pan Pacific Hotels Group experienced a similar situation with orders increasing by up to 200 percent from March 2nd to March 9th, 2024 compared to the previous week prior to the release of Swift’s concert tickets. The majority of the orders came from Australia, Indonesia, Taiwan, and South Korea.

The government invests

In terms of plane ticket orders, tickets from Manila (Philippines) and Jakarta (Indonesia) to Singapore increased by 50-130 percent during Swift’s concert compared to flights a month earlier. A one-way Jetstar Asia ticket from Jakarta to Singapore in early March 2024 is worth IDR 2.2 million. In fact, orders for the previous month were only IDR 829,000, quoted from The Straits Times.

Responding to this, music observer Wendi Putranto assessed that the practice of exclusive agreements is commonplace with international artists. This issue has become a topic of discussion among promoters and agents in the music industry.

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This exclusive contract was made by the Singaporean Government to bring in foreign currency for the country. The reason being, the country also relies on the tourism sector.

“For an artist of Taylor Swift’s caliber to go to Southeast Asia, sometimes the concerts they hold are not necessarily profitable. “So, because the production costs are large, the production level is equivalent to Coldplay, he is a top tier artist in the world, giving each country the potential to boost music tourism income,” said Wendi.

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Most viewers will spend more than a day staying in Singapore. Apart from fulfilling the main agenda of enjoying the concert, they will take time to shop.

From this Swift concert, at least 330,000 people will attend the concert for six performances. Although there are also local spectators, the contribution of multiplier effect remains significant.

Tax incentive support

He added that STB made good use of its capabilities and authority. Promoters and organizers of big concerts in Singapore will be supported with stimuli, incentives and tax holidays. Not only that, ease of bureaucracy and licensing for holding events is also supported by the Singapore Government.

Singapore’s expertise in hosting international concerts is undeniable. This is due to their supportive infrastructure. The National Stadium’s location at the edge of the city, integrated with public transportation, makes it easy for audiences to access.

It also provides ’value’content to the world. ‘Content is king’.

The same sentiment was expressed by the Chairman of the Indonesian Music Promoters Association (APMI), Dino Hamid. The Singaporean Government is committed to supporting the Swift concert promoters, as the stage production and various other equipment costs reach hundreds of billions of rupiah. This factor also makes it impossible for the concert to move from city to city.

“Because now it’s not just business. The presence of Taylor Swift in one country has an economic impact on that country. Commercially, it is profitable for business players and their ecosystem. It also provides value content to the world. Content is king,” he said.

Singapore has been considering content as an attraction for quite some time. It must be admitted that the government of the country is more progressive in creating a variety of content.

What about Indonesia?

dan berkomitmen untuk mendorong pertumbuhan ekonomi kreatif yang berkelanjutan. Singapura memperkenalkan berbagai inisiatif seperti menyediakan ruang kerja dan budaya, memberikan dukungan keuangan dan promosi pasar untuk bisnis kreatif, serta meluncurkan program pendidikan dan pelatihan untuk memperkuat kemampuan dan keterampilan pekerja industri kreatif. Dalam beberapa tahun terakhir, ekonomi kreatif Singapura telah tumbuh sekitar 6% per tahun dan menjadi salah satu sektor unggulan negara kota itu. Translation: Singapore is an example of a country that has a focused and serious approach in capitalizing on the creative economy. The city-state is aware that its market is not only its citizens but also residents from Southeast Asia and beyond, and is committed to promoting sustainable growth of the creative economy. Singapore has introduced various initiatives such as providing workspace and culture, providing financial support and promotional markets for creative businesses, and launching education and training programs to strengthen the abilities and skills of creative industry workers. In recent years, Singapore’s creative economy has grown by around 6% per year and has become one of its key sectors.

So what about Indonesia? According to Wendi, Indonesia has not yet given an exclusive contract for international concerts. In the case of Taylor Swift’s concert, the Singaporean Government invested hundreds of billions of rupiah to the promoter to establish an exclusive contract.

“That’s a really crazy number. There are no Indonesian promoters that are that brave. Because around Rp. 300 billion is just the main performance, not yet renting the venue, production carrying hundreds of tons of cargo, not to mention the entourage, including dancers and band. “So, Indonesia is not yet capable,” he said.

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Taking a cue from the Coldplay concert held in Jakarta in November 2023, the music industry can ignite tourism as it brings in foreign exchange for the country. So far, only Jakarta has the infrastructure to host large concerts.

Dino believes that Indonesia has diverse macro-industry potential. The entertainment industry should have greater potential because of the existence of large and adequate stadiums, such as those in Jakarta, Surabaya, and Bali. This is considered more “sexy” for musicians.

To host a major international concert, the involvement of the state is crucial. Promoters cannot bear the substantial risk alone. The country also needs to invest in this industry if it wants to seriously develop it.

“The hope is that the government will release supporting funds for tourism, this could be part of the future progress of the performing arts. Because it must be supported. “If it’s not supported, it will be our responsibility as the perpetrators,” said Dino.

The promoter cannot bear the large risks alone. The country also needs to invest in this industry if it wants to seriously develop it.

Building an exclusive agreement with more than one performance is certainly not easy. Investment, infrastructure strength, and government support for the performing arts ecosystem are needed.

Not surprisingly, many countries are competing to host big events featuring world-renowned musicians. The resulting domino effect is no small matter. However, having a grand vision alone is not enough without a commitment and understanding of the music industry ecosystem.