South Korean superstar group BTS released their 5th full album "ARIRANG," and held a comeback concert last weekend at Gwanghwamun Square in Seoul. The global tour that follows has made the "economic impact" a hot topic.
Both international and Korean media have described BTS’s influence as “BTS Economics,” even directly comparing it to Taylor Swift, claiming that so-called “Taylor Swift Economics” can’t match up to “BTS Economics,” and that BTS could generate several hundred million ringgit in economic benefits, calling it an “epic economic momentum.”
However, most netizens remained noncommittal, questioning whether this was self-aggrandizement to the point of exaggeration: “Even companies like Samsung, SK semiconductors, or Nvidia don’t boast like this.”
According to media forecasts, BTS’s comeback performance at Gwanghwamun Square would generate an economic spillover effect of about US$177 million (about RM690 million), covering costs for overseas fans’ airfare, accommodation, dining, and merch spending. However, before the Gwanghwamun event last week, officials estimated a crowd of 260,000 but the actual turnout was only 40,000, leaving netizens skeptical about projections relating to BTS.
The report further compared BTS with Taylor Swift. Taylor Swift’s tours gave rise to the term “Taylor Swift Economics,” because her concerts in a single city bring approximately US$50–70 million (about RM190 million to RM270 million) in economic impact. Yet by estimates, the scale of BTS’s comeback alone could bring around RM690 million in economic benefits, which, in the face of “BTS Economics,” makes “Taylor Swift Economics” seem a bit inferior.
It’s not just foreign media; Korean domestic analyses have been even more exaggerated. Some securities analysts forecast that album sales plus tour revenue alone could reach 2.9 trillion won (about RM7.5 billion); adding in the full impact from 82 shows in 34 cities worldwide, the overall figure could even exceed 100 trillion won (about RM264.5 billion). This has been described as “epic economic momentum” when compared to Korea’s annual GDP.
However, these staggering figures haven't all been accepted, instead sparking a backlash on Korean forums. Many netizens bluntly said, “Even Samsung, SK semiconductors, or Nvidia don’t promote themselves like this,” questioning whether the self-boasting was excessive and the data was overly inflated. Some also felt there was no need to forcibly compare BTS with Taylor Swift every time, as it weakened the credibility of the coverage.
Source: NOWnews Entertainment