Countries with superior, larger, and more competitive concert venues have reaped substantial economic rewards, particularly with the influence of globally renowned acts like Taylor Swift’s Eras Tour and Coldplay’s World Tour on consumer behavior and spending.
The success of these concerts, drawing tens of thousands of devoted fans, served as an economic boon for host countries worldwide. In Southeast Asia, countries like Singapore and Japan benefited notably. Filipino fans often had to invest heavily and travel long distances to catch exclusive performances by superstars like Swift in Singapore’s National Stadium or at venues like Japan’s Tokyo Dome and Sydney’s Accor Stadium in Australia. These massive concert events significantly boosted the economies of the host nations, benefiting various sectors including entertainment, hospitality, retail, and transportation.
While Singapore’s strategic hosting of an exclusive Swift performance for Southeast Asia drew attention and intrigue from neighboring countries, it also shed light on areas where the Philippines can enhance its concert venue offerings.
Location matters. The Philippines boasts sizable venues comparable to Singapore’s National Stadium and Japan’s Tokyo Dome. However, accessibility, public transportation options, and nearby amenities are crucial factors for concertgoers.
Elevating the concert experience. Singapore’s National Stadium stands out with innovative features like the world’s largest free-spanning dome, a retractable roof, and comfort cooling technology, providing a superior experience for spectators. These innovations, coupled with its strategic location and efficiency, attract entertainment acts from around the globe. Filipino concert enthusiasts hope for a similar venue and experience closer to home.
World-class amenities and facilities. Concert venues should offer premium amenities to enhance the overall experience. For instance, the SM Mall of Asia (MOA) Arena, developed by SM Prime, has become a preferred venue for various events, boasting a seating capacity of 20,000 and hosting thrilling sports events, OPM shows, and international superstar performances. Additionally, outdoor venues like the SMDC Festival Grounds in Parañaque City accommodate large crowds for memorable performances.
Fulfilling Filipinos’ concert dreams. SM Prime’s ambitious plan for a 360-hectare smart city development aims to establish a centerpiece for entertainment and sporting events. This development will include a 70,000-capacity stadium and concert arena connected to Central Park, promising world-class facilities and sustainability features. Once completed, Filipinos won’t need to travel abroad to experience top-tier performances.
Filipino concert enthusiasts can continue to enjoy live performances with convenience and comfort by investing in modern, accessible concert venues. Well-curated venues can contribute to economic growth by stimulating local spending in retail, tourism, and hospitality sectors.
