The highly anticipated reunion tour of Britpop legends Oasis is set to give the UK economy a significant boost next summer.
Economic Impact Expected
Economists and business experts predict that the tour will cause a spike in demand for accommodation and hospitality services in cities hosting the concerts, similar to the economic benefits seen from Taylor Swift's Eras tour this summer.
'not only beneficial for the UK music industry, but a super boost for our inbound tourism, drawing visitors from around the world to experience the best of what the UK has to offer'
Joss Croft
Thomas Pugh, an economist at RSM UK, estimates the tour will be a "phenomenal sellout", resulting in increased bookings for hotels, pubs, bars, and restaurants near the gig venues.
The enthusiasm for live performances remains unwavering, leading to high demand for accommodations and increased patronage at pubs, bars, and restaurants during the summer concert season.
In a study conducted by Sacha Lord on behalf of Greater Manchester's nighttime economy, it was found that hosting the band could have an economic impact exceeding £15 million.
The prolonged wait for Oasis to reunite has been fueled by fans' enduring passion and nostalgia since the band's abrupt disbandment in 2009, which was precipitated by a dramatic and infamous backstage brawl at the Rock en Seine festival in Paris.
Deputy chief executive of BusinessLDN, Muniya Barua, anticipates that the tour will have a profoundly positive impact on the UK economy by boosting the sector's earnings substantially.
The Oasis Live 25 tour marks a significant milestone for the iconic Britpop group, as it celebrates the thirtieth anniversary of their groundbreaking debut album Definitely Maybe, which catapulted them to chart-topping success.