Hallyu Concerts Boost Korean Economy and Tourism: Insights from BTS Concerts in Gwanghwamun and Goyang
Large-scale Korean Wave (Hallyu) concerts have been shown to have a positive impact on the local economy and tourism in Korea. The Ministry of Culture, Sports, and Tourism, along with the Korea Culture & Tourism Institute and the Korea Tourism Organization, conducted surveys and data analysis during BTS concerts in Gwanghwamun and Goyang. Foreign attendees of the Gwanghwamun concert stayed in Korea for an average of 8.7 days and spent 3.53 million won per person, significantly more than the average stay and spending of general inbound tourists. Visitors to the Goyang concerts stayed for an average of 7.4 days and spent 2.91 million won each, expanding their travel itineraries to nearby areas like Yongsan, Myeong-dong, and Dongdaemun Design Plaza (DDP).
The influx of foreign visitors and their spending in the Daehwa-dong area of Ilsanseo-gu, Goyang-si, where the concerts took place, saw a significant increase. During the three-day concert period, the number of foreign visitors reached 48,581, a 35-fold increase compared to the previous year. Foreign card spending also surged 38-fold year-on-year to 337.8 million won, providing a significant boost to the local economy. Based on these results, the government plans to expand K-culture-linked tourism nationwide. The Ministry of Culture, Sports, and Tourism and the Visit Korea Committee have designated June 1–15 as a “Welcome Week” to coincide with the upcoming BTS concert in Busan on June 12–13, encouraging visits to the region.
Kang Jeongwon, policy chief at the Ministry of Culture, Sports, and Tourism, highlighted the increasing number of foreign visitors coming to experience K-culture, such as music and film. The government aims to support the connection of tourism content so that visits to the Seoul metropolitan area can lead to longer stays in other regions. The success of Hallyu concerts in attracting foreign tourists and boosting local economies underscores the importance of promoting K-culture tourism on a broader scale.