The Coldplay Concert’s Explosion, How Big is the Impact on the Economy?

Jakarta, Armfalcon.com —

Various activities or major events have been carried out in line with the end of the Covid-19 pandemic. Not only sports matches or concerts by local bands, foreign singers have also started to perform concert on a large scale in Indonesia.

Some of them are boy band and girl group concerts from South Korea, NCT Dream and Blackpink. The newest and most anticipated band is Coldplay who will be performing at the GBK Main Stadium, Jakarta on November 15.

Even though the holding of this British band’s concert in Indonesia is still a long way off, the public’s enthusiasm is already very high. The reason is, this is the first time Coldplay has held a concert in Indonesia since it was formed in 1996.

Then how big is the economic impact of holding large overseas concerts such as Blackpink and Coldplay to Indonesia?

Director of the Center for Economic and Law Studies (CELIOS) Bhima Yudhistira sees the economic impact of organizing international music concerts in Indonesia is not too big. Moreover, this activity is part of the creative economy sub-sector.

“The creative economy’s contribution to GDP (Gross Domestic Product) is only 6.98 percent. It means that concerts or musical performances are only part of it, the impact is relatively small because it is below it,” said Bhima to Armfalcon.com. comWednesday (10/5).

According to Bhima, an international band concert will have an impact at least on the consumption of the upper middle class. This is because the ticket prices are not cheap.

“There is an effect after the pandemic, people’s recreational spending increases, even higher than before the pandemic, including music concerts. People are bored during the pandemic, so after loose mobility, they immediately spend on recreation,” he explained.

Although, indeed the profits will only be divided in a number of sectors, for example hotels, surrounding MSMEs, and souvenir sellers. But the benefits that this sector gets also depend on the singers who are brought in.

“The numbers vary, but it can reach a total income of tens of billions per concert if artists who perform at the top like Coldplay,” he explained.

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