Economic Survey: Concert economy poised to drive growth in entertainment, tourism

A file photo of Sunidhi Chauhan at a concert.

• Concert economy can boost India's media, tourism, and allied services growth
• Single window mechanism for live event permissions being developed
• Concerts create jobs and amplify tourism demand, especially for youth

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The concert economy can become a meaningful driver of growth for media and entertainment (M&E), tourism and allied services, the Economic Survey, tabled in the Parliament on January 29, has said.

The concert economy needs appropriate facilitation and integration into tourism and city branding strategies to drive growth. In India, the concert economy is nascent but scaling, supported by a young population, rising incomes, digital ticketing platforms and improving urban infrastructure.

International experience underscores that economic gains depend on urban readiness and facilitative governance, including streamlined permissions, predictable regulations, efficient crowd management, last-mile connectivity and coordination across city authorities and tourism bodies. In India, there is a lack of live event venues and restrictions on the foreign payments that can be made to artistes coming from abroad.

Opening up heritage monuments for such events and facilitating the visa and foreign exchange permissions for the foreign performers/ artists could be considered in this regard.

Considering that anywhere between 10 and 15 clearances are required, the information and broadcasting ministry is working on a single window mechanism for live entertainment permissions, including those needed from state governments, it said.

The survey cited examples of the US and the UK to highlight the contribution of concerts to their economies. Live music accounts for about one-third of total music revenues. In the US, it generated over $130 billion and supported more than 900,000 jobs in 2019.

In the UK, music tourism alone contributed £6.6 billion ($8.1 billion) in 2022, about 0.3 percent of Gross Domestic Product (GDP), reflecting strong spillovers to hospitality, transport and retail.

Concerts also serve as short-duration tourism demand amplifiers, being labour-intensive and creating jobs across various sectors, including event operations, logistics, hospitality, security, and media, particularly for young people and creative professionals.

According to UN Trade and Development (UNCTAD) estimates, the creative industries contribute between 0.5 percent and over 7 percent of GDP across countries, underscoring the significant potential of live entertainment.