Introduction
BLACKPINK successfully performed at My Dinh National Stadium in Hanoi, Vietnam on July 29th and 30th. More than 60,000 spectators attended the two-day performance, and despite the bad weather, fans came to the venue to shine Blackpink’s last world tour destination, Hanoi.
BLACKPINK members performed a stage full of hit songs to impress the enthusiastic fans. The members especially tried to communicate with local fans by saying hello in Vietnamese and wearing non-la. BLACKPINK’s Hanoi concert ended successfully, giving the audience a deep sense of immersion and emotion.
![Economic Impact of BLACKPINK: Analysis of [Born Pink] Hanoi concert street gcff63f975 1280](https://muzicbank.com/wp-content/uploads/2023/08/street-gcff63f975_1280-optimized.jpg "Economic Impact of BLACKPINK: Analysis of [Born Pink] Hanoi concert")
BLACKPINK’s Hanoi performance had a great impact on the local economy. Visitors wanting to attend the concert came to Hanoi. Related industries such as hotels, restaurants, and merchandise sales recorded large sales, and the local economy was revitalized. BLACKPINK’s performance in Hanoi is an important example of the influence of Korean culture and the Korean Wave, and it has greatly contributed to the growth of the local economy and tourism industry as well. Today we would like to anlyze the economic effects of BLACKPINK through the Hanoi concert.
1. Effects on the tourism industry
BLACKPINK’s Hanoi concert brought a great boost to Vietnam’s tourism industry. Immediately after the news of the concert was announced, the Hanoi City Tourism Authority and travel agencies actively participated in the promotion of tourism products to promote the attraction of tourists. As a result, according to the Vietnam Tourism Organization, the number of tourists visiting Hanoi in July was 2.38 million, an increase of 21.4% compared to the same period last year. The influx of tourists due to BLACKPINK’s concerts invigorated the local economy and greatly increased the revenue of the tourism industry, including hotels and restaurants.
2. Effects on consumption activity
Tickets for BLACKPINK’s Hanoi concert were sold at a fairly high price, but ticket power increased due to all tickets being sold out. In particular, audiences from neighboring countries such as Thailand and China showed high local consumption activity, with all seats sold out despite flight prices soaring. In addition, while waiting for the concert, related merchandise were popular, and sales of goods and albums also increased. BLACKPINK’s concerts stimulated great consumption activities in the local economy, and fans’ passionate spending power further enhanced BLACKPINK’s economic performance.
3. Effect on record sales
Sales from Blackpink’s world tour, including the Hanoi concert, are estimated at $163.8 million, which is the highest sales among girl groups ever. Through various revenue sources such as ticket prices and merchandise sales, BLACKPINK recorded the highest sales, which proved their economic strength and successful concert operation.
![Economic Impact of BLACKPINK: Analysis of [Born Pink] Hanoi concert bridge gb890f834e 1280](https://muzicbank.com/wp-content/uploads/2023/08/bridge-gb890f834e_1280-optimized.jpg "Economic Impact of BLACKPINK: Analysis of [Born Pink] Hanoi concert")
Conclusion
The Hanoi concert by BLACKPINK stands as a remarkable testament to the immense economic benefits it has generated across diverse sectors, including tourism, consumer activities, and cultural industries. This event marked a pivotal milestone in the ever-expanding wave of Korean culture and entertainment, commonly known as the “Korean Wave” or “Hallyu.”
In terms of tourism, the concert acted as a significant magnet, drawing fans from not only Vietnam but also neighboring countries. The influx of visitors resulted in increased hotel bookings, restaurant patronage, and local shopping, thereby stimulating the local economy. Furthermore, the positive portrayal of Hanoi as a vibrant hub for cultural events only served to enhance its appeal as a tourist destination, encouraging future visits.
Consumer activities experienced a notable upswing as well. BLACKPINK merchandise, from clothing to accessories, experienced a surge in demand both in Hanoi and internationally. This not only boosted the local economy through sales but also contributed to the broader global recognition of Korean pop culture.
Moreover, the cultural industries in Vietnam received a substantial boost from this concert. It showcased the country’s capacity to host world-class entertainment events and fostered a deeper appreciation for music and performance arts among its population. As a result, there has been an increased interest in nurturing local talent, potentially leading to a flourishing entertainment industry in Vietnam.
