CNBC: BTS fandom could add up to $6.58B annually to South Korea's GDP by 2040
CNBC cites Korea University research and NH Investment & Securities data showing BTS fandom could add $6.58 billion annually to South Korea's economy by 2040.
CNBC calls BTS fandom "a priming water for long-term activation of the Korean economy." The figure behind that claim: fan consumption could contribute up to 0.35 percentage points to South Korea's GDP annually by 2040. At 2024 nominal GDP, that's roughly $6.58 billion a year.
The math rests on two sources. NH Investment & Securities provided economic modeling. Korea University professor Pyun Ju-hyun surveyed foreign attendees at a BTS Seoul concert. Among them, 98% said they'd return to Seoul within five years. Two-thirds of those planned to come back five or more times.
Age matters here. Eighty-four percent of ARMY worldwide are currently in their teens or twenties, so their spending power is still climbing.
The BTS World Tour Aranang IN Busan held its second show December 12, following the first concert in April. Busan city preemptively cracked down on price gouging at accommodations and secured additional lodging capacity.
Soft power analyst Jonathan McClory, Managing Partner at Sanctuary Counsel, put it this way: "BTS is the most core part of Korea's very successful content ecosystem closely intertwined with film, drama, beauty, food, etc."
Not all experts skip the warnings. Natalia Grincheva, Associate Professor at Lasalle Singapore College of the Arts, flagged that "geopolitical factors are a strong risk factor." History backs her up. In 2016, K-pop concerts in China were restricted following the THAAD missile defense deployment. Political friction can shut down fan traffic overnight.
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