SINGAPORE: The Monetary Authority of Singapore (MAS) announced on Friday, April 26, that concerts by American pop sensation Taylor Swift and British rock band Coldplay in the first quarter of 2024 contributed to a “surge in tourism activity” that strengthened Singapore’s economy.
The largest stadium in Singapore, the National Stadium, holds 55,000 spectators. Coldplay performed there in January, while Swift performed there in March.
Over half of the crowd for these concerts—which lasted for 12 days in total—was probably foreign, according to MAS’s most recent macroeconomic review, published twice a year.
Over 200,000 tickets were sold for Coldplay’s first four shows in Singapore, and over 300,000 were purchased for Swift’s concerts.
According to data from the Singapore Tourism Board (STB), 4,353,500 foreign tourists arrived in the first three months of this year. That is a 26% increase from the last quarter of 2023 and a 50% increase from the same period last year.
Singapore’s economy expanded by 2.7% in the first quarter of this year compared to the same period last year and 2.2% in the final quarter of 2023. Despite a decline in industrial activity, the first quarter saw growth; the biomedical and electronics clusters performed poorly.
Also Read:
China calls German and British Spy Charges Malicious.”
Residents of Indonesia are reassured as the Rupiah drops to a 4-year low
