BTS's Comeback Is a "Trillion-Won War" Beyond Money

 Original article: IZE

When American pop diva Taylor Swift launched her The Eras Tour in 2023, a new term

—“Swiftnomics”—was coined. This was because the scale of her world tour was so massive that it was likened to an economic phenomenon in itself.

Wherever Swift performed, crowds flocked to the cities, filling them with excitement and cheers. As a result, statistics in service industries such as transportation, accommodation, and food and beverage surged, temporarily boosting local economies. “Swiftnomics” was even officially mentioned in an economic report by the Federal Reserve. According to the report, hotel sales in Philadelphia and public transportation usage across Chicago reached post-pandemic highs due to the tour. In Chicago alone, tens of thousands of additional transit trips were recorded during the tour period.

Based on these figures, media estimates put the economic impact of Swiftnomics at around $5 billion across more than 20 U.S. cities—over 7 trillion won. Considering that South Korea’s annual national budget is about 728 trillion won, the economic effect created by a single American artist amounted to nearly one-hundredth of the output of Korea’s entire population of 50 million.

But it is still too early to be amazed. The economic impact of BTS is expected to be even greater—so-called “BTS-nomics.”

With their full-group comeback scheduled for March 20 alongside their new album Arirang, projections for BTS’s economic impact are already making headlines. Estimates range from hundreds of billions to trillions of won, suggesting that it will be no less significant than Swiftnomics.

 

In a recent report titled “High Possibility of BTS World Tour Attendance Exceeding 5 Million,” IBK Investment & Securities analyzed that, considering an average ticket price of 280,000 won, merchandise sales of 140,000 won per person, and sponsorship revenue, the upcoming world tour is expected to generate about 2 trillion won in revenue and over 400 billion won in operating profit.

At first glance, 2 trillion won may seem modest compared to Swift’s estimated 7 trillion won. However, a closer look reveals BTS’s true strength.

Swift attracted about 4.6 million attendees through 66 concerts worldwide in 2023. The top-ranked world tour of 2025 by Coldplay consisted of 59 shows with around 3.5 million attendees.

BTS will begin their world tour in April, with 79 concerts scheduled across 34 cities. Starting with their April 9 performance at Goyang Sports Complex, they will tour North America, South America, Europe, and Asia, with Japan and the Middle East likely to be added later. The projected audience is about 5 million, already surpassing both Swift and Coldplay.

Sales of Arirang are also remarkable. As of late January, pre-orders had already exceeded 4.06 million copies. This surpasses their 2019 album Map of the Soul: 7, which sold 3.42 million copies, despite nearly four years having passed. Final sales are expected to exceed 5 million copies, potentially setting a new record for K-pop. Revenue from album sales alone is estimated at around 100 billion won.

 

Beyond direct revenue, the broader economic ripple effects are expected to be enormous. According to a 2022 report titled “The Economic Impact of BTS in the Post-COVID Era” by the Korea Culture & Tourism Institute, a single BTS concert can generate up to 1.2 trillion won in economic impact, including production, consumption, employment, and added value.

At that rate, 79 concerts would amount to approximately 94.8 trillion won—an almost unimaginable figure. Reflecting this optimism, shares of HYBE have risen steadily over the past three months. From just over 280,000 won per share in December, the price climbed to 391,000 won by the 26th, marking a 37.2% increase.

On March 21, the day after the album release, BTS will hold a comeback live performance at Gwanghwamun Square in Seoul, drawing intense attention. Although the concert is free, everything surrounding it is seeing dramatic economic movement.

Major hotels in the Gwanghwamun and City Hall areas were fully booked well in advance. The Four Seasons Hotel reached 100% occupancy through late April, while The Plaza Seoul was fully booked not only on the concert day but also through the end of March. Reservations at Lotte Hotel in Sogong-dong increased by about 20% compared to normal levels.

Netflix has also joined in, exclusively livestreaming BTS Comeback Live: Arirang to over 190 countries. This marks the first time Netflix has broadcast a live event held in Korea. Although the broadcasting fee has not been disclosed, the company is said to have offered favorable terms in terms of marketing and production costs.

BTS had already demonstrated this potential during their 2021 Las Vegas tour. According to The Guardian, BTS generated $160 million (about 228.3 billion won) in revenue in Las Vegas alone. Considering their upcoming visits to 34 cities, total revenue is projected to reach approximately 7.76 trillion won.

Limiting the calculation to ticket and merchandise sales yields about 2 trillion won. Including city partnerships raises this to around 7.76 trillion won. When indirect effects—such as production, consumption, employment, and added value—are included, the total impact reaches 94.8 trillion won.

BTS’s comeback is truly a “trillion-won war.” It is a staggering figure that leaves one in awe.