LONDON, Aug 28 —The highly anticipated reunion tour of legendary English Britpop band Oasis looks set is deliver a substantial economic boost to the UK, with experts predicting a £350 million (RM2 billion) uplift thanks to increased demand for accommodation, merchandise, travel, and tickets.
Fronted by brothers Liam and Noel Gallagher, the act has announced a series of concerts across London, Manchester, Cardiff, Edinburgh, and Dublin scheduled for July and August next year.
According to SumUp, the tour will significantly benefit UK and Irish economies, with each fan expected to spend around £350 (RM2,012) per concert. This includes approximately £112 million (RM642 million) on travel, £76 million (RM437 million) on hotel stays, and £22 million (RM126 million) on food and beverages. The total expected audience across all venues is estimated to be 1,007,888.
Fans will face travel costs averaging £111 (RM637), hotel rates ranging from £111 (RM637) in Cardiff to £158 (RM908) in London (for two adults sharing), £40 (RM230) on merchandise, and £22 (RM126) on venue food and drink, in addition to an estimated £100 (RM575) ticket price, according to a report by Daily Mail.
This anticipated economic impact follows Taylor Swift's Eras tour, which was credited with boosting the UK's restaurant and hotel sectors due to increased tourism. Analysts had predicted that Swift's tour could generate a £1 billion (RM5.75 billion) boost to the UK economy, though it is suggested that while Oasis fans will spend significantly, it may not reach the same heights.
Ticket prices for the Oasis tour will be announced this Thursday and go on sale Saturday at 9am. Reports suggest prices might exceed £100 (RM575), potentially reaching £140 (RM805). For comparison, Liam's Definitely Maybe tour tickets this year ranged from £53 to £108 (RM305 to RM620), while Noel's High Flying Birds concert in Wigan last month had tickets priced between £60 and £110 (RM345 to RM630).
Some hotels have reportedly increased their rates fourfold for the tour dates, with some rooms reaching nearly £700 (RM4,025) per night. Music industry expert Professor Jonathan Shalit estimates the tour will generate over £400 million (RM2.3 billion) in gross revenue, with each Gallagher brother potentially earning over £50 million (RM287 million).
Economist Thomas Pugh from RSM UK expects the tour to be a massive success, driving up demand for accommodation and hospitality in the host cities. Cardiff, which will also host Taylor Swift and the Foo Fighters, saw hotel prices surge by up to 500%.
Greater Manchester night-time economy adviser Sacha Lord, forecasts a £15 million (RM86 million) boost to the city's economy from Oasis's four Heaton Park shows. The influx of 80,000 visitors per night will positively impact local hotels, pubs, bars, and restaurants.
Music expert Kevin McManus predicts that the competition for Oasis tickets will surpass that of Taylor Swift, driven by the band's long-awaited reunion and the speculation surrounding it.
The band announced the tour with the tagline, "The guns have fallen silent. The stars have aligned. The great wait is over. Come see. It will not be televised." The band's website crashed upon the announcement, reflecting the high demand.
Analyst Susannah Streeter from Hargreaves Lansdown noted that the ticketing frenzy underscores fans' eagerness to see the Gallagher brothers reunited. Although spending by Oasis fans might not match the £1 billion (RM5.75 billion) boost from Swift's tour, they are expected to spend generously.
The tour will kick off at Cardiff’s Principality Stadium, followed by performances at Manchester’s Heaton Park, London’s Wembley Stadium, Edinburgh’s Murrayfield Stadium, and Dublin’s Croke Park throughout July and August next year.
UKHospitality CEO Kate Nicholls emphasised that the strong appeal of live music will lead to quick bookings and packed venues, benefiting hotels, pubs, and restaurants.
While the band has announced the UK and Ireland tour dates as their exclusive European appearances, there are plans for international dates. Joss Croft, CEO of UKinbound, highlights the tour's potential to boost inbound tourism and showcase the best of the UK.
Fan anticipation has already increased streaming of Oasis tracks by over 160% globally, according to Spotify.
BusinessLDN deputy chief executive Muniya Barua, notes the tour’s potential for a "supersonic boost" to London’s economy and suggests that the government should consider reinstating VAT refunds for overseas visitors to enhance the economic benefits.
Corin Camenisch of SumUp advises fans to book travel and accommodation early for the best rates and suggests local businesses near tour venues offer special deals to attract concert-goers.
Earlier this year, analysts reported that Taylor Swift's Eras Tour temporarily inflated hotel prices in the UK. Swift’s shows in Edinburgh, Liverpool, Cardiff, and London were expected to have generated a £997 million (RM5.73 billion) boost to the UK economy, with fans spending an average of £848 (RM4,880) on tickets, travel, accommodation, and more.
