To what extent can holding concerts promote the development of local economy?

Abstract

The purpose of this paper is to investigate the extent to which organizing concerts contributes to the local economy. The study adopts a combination of literature research and questionnaire survey. The literature study combed the concepts and industry data related to concert economy and pointed out the research gaps; the questionnaire collected information from different consumers through 16 questions and 101 valid questionnaires were collected. The results show that concerts promote economic development in many ways, such as directly bringing tickets and peripheral consumption, creating temporary and long-term jobs, driving the development of transport, accommodation, catering and other industries, attracting tourists to promote tourism and related consumption, and the majority of respondents are willing to spend money on concerts and related trips, and are also willing to learn about the local cultural attractions, and 86.14% of the people said that they would pay more attention to the host city after learning about it. The conclusion is that concerts can help cities’ economic growth, but hosting them faces many challenges, including logistics management, safety, and environmental issues, and cities need rational planning, community participation, and sustainable development to realize their economic and cultural value.