G-Dragon creates huge economic impact before arriving in Hung Yen

G-Dragon's concert creates huge economic benefits. Photo: Galaxy Corporation

Economic effects of hundreds of billions of won in Korea

Right from the opening stage at Goyang Stadium (Korea) on March 29-30, Übermensch World Tour 2025 with more than 65,000 tickets was sold out. This is the first solo concert of G-Dragon 8 years after Act III: MOTTE World Tour (2017).

According to Money Today's report, the total economic impact of the two nights concert in Goyang is estimated to reach about 400 billion won, including ticket sales, tourism consumption, accommodation, food, transportation and other spillover effects.

Aside from direct spending, the most notable segment is MD (merchandise, idol-related products) which always generates outstanding revenue at K-pop concerts. For artists with large fandoms, MD often reaches 220% of ticket revenue.

In particular, the organizer Galaxy Corporation introduced a series of first-time technology MDs, such as remote-controlled lightsticks, IT-integrated products, and interactive experiences. On the first day of sale, all MDs were sold out by 12 noon, demonstrating huge purchasing power.

Idol merchandise generates about 220% more revenue than ticket sales. Photo cut from video

Along with the economic effects, Korea also witnessed a new step forward in the definition of "concert". technology”. Galaxy Corporation deploys drones, robots, AI, holograms, a series of groundbreaking lighting and stage effects, helping to raise the standard of concerts K-pop international level

The “Übermensch” exhibition in Seoul also created a strong tourism effect, with the 7m-tall giant lightstick at The Hyundai Seoul and the G-Dragon hologram area at Epic Seoul attracting tens of thousands of check-ins.

According to the 2023 National Tourism Survey Report by the Ministry of Culture, Sports and Tourism of Korea, the average daily spending of a domestic tourist (excluding accommodation costs) is 67,200 won. Based on that, the total spending of Korean audiences who attended G-Dragon's concert is estimated at 2.2 billion won.

Meanwhile, international audience spending is much higher. According to the Korea Tourism Data Lab's 4Q2024 Foreign Tourist Survey Report, an international visitor to Korea stays an average of 6 nights and 7 days, with a total cost (including airfare) of about 1,876.4 USD, equivalent to 2.73 million won/person. Multiplied by the number of foreign audiences attending the concert, the total spending is estimated at 88.7 billion won.

If you add in the number of people accompanying you, a factor often included in economic analyses of K-pop concerts, the number increases dramatically. According to the Korea Tourism Culture Research Institute, each international fan who visits Korea for Hallyu usually brings an average of 2.8 people.

Applying this formula to G-Dragon's concert, the total number of international guests and accompanying people could reach 123,500 people, with spending in Korea estimated at 337.2 billion won.

The total concert spending, including ticket sales, MD revenue, and domestic and international fan travel spending, is estimated to reach 381.4 billion won. If we continue to add spillover factors such as production effects, added value, and job creation, the actual economic impact is expected to be much larger.

Making waves in many major markets

G-Dragon's two-night concert will take place in Hung Yen on November 8 and 9. Photo: Organizer

Before coming to Vietnam, “Übermensch World Tour” had created a widespread effect in many countries, from Japan to the Philippines, Malaysia, Indonesia, China, France, the US, and Australia.

During the concert on July 11 - 13 in Taipei (China), G-Dragon set a record for the first Korean artist to sell out 80,000 tickets at the Taipei Dome. Local authorities reported a surge in hotel bookings and spending during the concert weekend. Hashtags related to G-Dragon continued to trend throughout Asia during the concert.

The next stop on November 8 - 9 in Vietnam is expected to have the same economic impact as other major markets.

In addition to the sharp increase in international tourists (especially from Korea, Japan, China, Thailand, etc.), activating MD revenue and entertainment services, filling up hotels around the concert area to the explosion of spending on food, shopping, and transportation, another factor that can be seen is the promotion of international media about the image of Vietnam as a destination for large-scale concerts.

Source: https://baoquangninh.vn/g-dragon-tao-hieu-ung-kinh-te-khong-lo-truoc-khi-den-hung-yen-3383651.html