Singapore's grant for Taylor Swift concerts sparks debate
Singapore government's decision to grant funds to songstress Taylor Swift for her upcoming The Eras Tour in the city-state has generated mixed reactions. To note, she has reportedly been offered the funds on the condition that she won't perform anywhere else in the Southeast Asian region. This, naturally, has angered a large section of her fans in the area, with Thailand's Prime Minister Srettha Thavisin also expressing his anger toward Singapore.
Singapore hasn't disclosed the amount of grant
While disclosing the news of the grant, Singapore's Tourism Board and Culture Ministry said on Tuesday, "It is likely to generate significant benefits to the Singapore economy, especially to tourism activities such as hospitality, retail, travel, and dining, as has happened in other cities in which Taylor Swift has performed." They did not, however, comment on the exclusivity clause or the grant's amount.
Thailand will now compete with Singapore
Thavisin has strongly objected to Singapore's decision and The Guardian quoted him as saying, "AEG, [the concert promoter] didn't tell me the exact figure, but they said the Singapore government offers subsidies of between $2M and $3M. But the Singaporean government is clever. They told [organizers] not to hold any other shows in [Southeast] Asia." Thavisin has now decided to bring "A-listers" and "world-class acts" to his country.
One expert called it 'a common strategy'
Kevin Wee, a senior lecturer in hospitality and tourism at Nanyang Polytechnic's School of Business Management, spoke to the South China Morning Post about the grant. He said, "It's a common strategy for governments to incentivize concerts and events expected to bring economic benefits. Similar support has been observed in various instances, with one of the more prominent examples being the Singapore Grand Prix since 2008."
However, there is a major risk factor involved
Kevin Cheong, a managing partner at tourism and destination development consultancy Syntegrate LLP, further spoke to SCMP about the "risk" factor involved in handing out such a grant. "Such events are usually insured but what if she falls ill and there's no show? Many things could happen as well...in reality, the risks are high." The Blank Space singer will perform in Singapore between March 2 and March 9.
Swift's significant impact on global economy
Swift's The Eras Tour is projected to generate $4.6B in consumer spending in the US alone, according to QuestionPro. A Japanese economist estimated that Swift's concerts in Tokyo earlier this month boosted Japan's economy by $228M. Separately, Cheong from Syntegrate LLP believes that the benefits from Swift's concerts in Singapore would outweigh the grant provided, further solidifying the city-state's position as a top choice for concert organizers in the future.
