BTS Sparks Major Economic Impact Across North America; The Guardian Calls It "World Cup-Level Spending

● The Guardian: BTS' North America tour is boosting the U.S. economy

● Las Vegas concerts generated an estimated KRW 450 billion in economic impact, with spending compared to FIFA World Cup

● HYBE posts record-breaking Q2 revene of KRW 1.45 trillion as global success continues

BTS has been credited with generating a significant economic boost across the United States through its North American tour.

On August 4, BigHit Music cited a recent report by the British newspaper The Guardian, which stated that "after a four-year hiatus from touring, BTS has returned to the road and is helping fuel an economic boom in the United States."

The Guardian highlighted BTS' 16 concerts across seven North American cities scheduled for August and September.

The report particularly focused on the group's four sold-out shows in Las Vegas this past May, which not only benefited major hotels but also small businesses in Chinatown and surrounding neighborhood. The concerts are estimated to have generated approximately US$340 million (about KRW 450 billion) in economic activity.

The group's concerts in New Jersey also provided a substantioan boost to the local economy. BTS performed at MetLife Stadium on August 1 and 2 (local time), drawing approximately 157,000 fans over two nights. Arond the concert dates, fans from around the world flocked to New York City's Koreatown in Manhattan and nearby commercial districts, significantly increasing consumer spending.

Michael Mariano, Head of Economic Development at Tourism Economics, told The Guardian that BTS fans' average spending extends far beyond concert tickets to include hotels, restaurants, transportation and air travel. He noted that the tour's overall economic impact could rival—or even surpass—that of the FIFA World Cup.

The success of BTS' tour has also been reflected in the financial performance of its parent company, HYBE. The entertainment company reported record second-quarter revenue of KRW 1.45 trillion, (approx. US$1.017 million), becoming the first entertainment company to surpass KRW 1 trillion (approx. US$ 700.792.947) in quarterly revenue. It marks the highest quarterly revenue in HYBE's history.

Meanwhile, BTS is currently undertaking the largest K-pop world tour ever, consisting of 88 concerts across 34 cities worldwide.

The New Jersey concerts marked the group's first stadium performances since their recent announcement of a Grammy Awards boycott. Fans filled the venue with supportive messages, while both the stadium and New York City took on a festive atmosphere throughout the event.

Following their New York and New Jersey performances, BTS will continue the North American leg of their tour with stops including Boston before heading to the Middle East, Japan, and additional destinations as the world tour continues.

Original article: Media Watch