“Singapore is giving huge subsidies.
“Exclusive attraction of performances in Southeast Asia”
50 million won package sold out special offer
Political backlash from the Philippines and Thailand
Singapore and neighboring countries clashed over American pop star Taylor Swift’s performance in Singapore from the 2nd to the 9th. The Philippines, Thailand, etc. reacted enthusiastically, saying, “The Singapore government gave organizer AEG a subsidy of millions of dollars per show to attract exclusive performances in Southeast Asia.” Swift’s performance has such great economic added value that it has given rise to a new word, ‘Swiftnomics’, which is a combination of ‘economy’ and ‘economy’ in his name, but there are complaints that Singapore has monopolized this.
According to Reuters, Philippine House of Representatives member Joey Salceda said on the 28th of last month, “The Singapore government gave a subsidy to AEG to hold exclusive concerts in the country. “This is not what a good neighbor does,” he protested. Previously, on the 16th of the same month, Thai Prime Minister Theta Tawisin also criticized “Singapore paid $2 to $3 million per episode to bring Swift in.” On the other hand, the Singapore side counters that “Swift chose Singapore knowing its advantages as a transportation, logistics, and financial hub.”
Swift will perform a total of six times during her visit to Singapore. All tickets, approximately 300,000, were sold out early. Analysis also showed that visitors will spend at least 500 million Singapore dollars (about 500 billion won), and that 70% of them are likely to be from neighboring countries such as Malaysia and Indonesia, rather than Singaporeans.
Major hotels and airlines are already enjoying SWIFT specials. Recently, Landmark Hotel Marina Bay Sands introduced the ‘Swift Package’ worth 50,000 Singapore dollars (about 50 million won), which combines VIP tickets to Swift’s performance, accommodation in the hotel’s suite, and use of a limousine. As expected, it was sold out immediately after it went on sale. Other hotels also reported that demand from Southeast Asian customers increased by 20 to 30 percent compared to usual. Singapore Airlines also reported that demand for flights between major cities in neighboring countries and Singapore has increased by 20%.
Singapore has also been hosting the Formula One (F1) car racing competition every year since 2008. The resulting tourism revenue is estimated at 2 billion Singapore dollars. By attracting Swift’s concert, he made money equivalent to a quarter of Swift’s in just one week.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.