We know Taylor Swift concerts generate billions in consumer spending. And now we know countries are willing to pay big for the advantage, at the cost of their neighbors missing out. Earlier this week, Singapore Prime Minister Lee Hsien Loong confirmed the country's tourism board paid an undisclosed sum—reported to be nearly $3 million for each of six sold-out shows—to make the island the only stop in Southeast Asia on Swift's Eras world tour. Here's what to know:
- Why? Singapore's economy was expected to receive a $370 million boost in the week Swift was in the country, per Quartz, which calls the deal "a masterclass in concert economics." More than 300,000 concert tickets were sold in Singapore, per Channel News Asia, which reports demand for flights and hotels rose 30%.
- Bad blood: This has led to some backlash from Singapore's usually friendly neighbors. "If I had known this, I would have brought the shows to Thailand," Thai Prime Minister Srettha Thavisin said last month, per the Bangkok Post. Hong Kong's Chief Executive John Lee spoke of "competing with different cities" to secure mega events, per NPR, while Philippine lawmaker Joey Salceda claimed Singapore was operating by "the law of the jungle," which is not "what good neighbors do," per Inquirer.net.