Coldplay's Fiery Gig in Ahmedabad: A Game-Changer for Local Businesses
Substantial Financial Gain for Ahmedabad: Exploring the Significant Economic Upsurge Caused by Coldplay's Performances
British band of legends, Coldplay, left Indians breathless in January with five whopper shows in Mumbai and Ahmedabad. People were ready to leap online queues and stand outside the DIY Patil and Narendra Modi stadiums for the grandest, most mind-blowing musical spectacle India had ever seen. And a recent report by EY-Parthenon and BookMyShow Live sheds some hot insights.
Money, Money, Money: How Coldplay Turned Ahmedabad into a Goldmine
The report reveals that the concerts in Ahmedabad welcomed a colossal 220,000 attendees, generating a stomping economic surge worth ₹640 crore. Of this, Ahmedabad's economy took a direct hit of ₹392 crore.
"The concerts sent Ahmedabad blasting onto the global entertainment stage, attracting visitors from over 500 cities nationwide. It contributed ₹72 crore in GST revenue to the Government of India, demonstrating a powerful fiscal impact," the report states.
The report also shines a spotlight on the chaos at Ahmedabad's airports and hotels during this time. A staggering 138,000 people zoomed into Ahmedabad Airport within a three-day window, with a staggering 47,000 record-breaking arrivals on the first concert day. "Even the local metro system saw records tumble, with passing rates skyrocketing while prices for rooms that usually hover around ₹15,000 even during peak season skyrocketed to ₹50,000 - ₹90,000 within just 48 hours after the concert announcement."
Put Your Wallet Where Your Mouth Is
BookMyShow's survey of more than 2,800 concertgoers paints a striking picture of Ahmedabad's economic resurgence. For every rupee spent on tickets, attendees dished out an additional ₹585 on amenities, travel, shopping, and grub, spawning a strong ripple effect across local businesses. A scorching 50% of all attendees extended their stay beyond the concert, boosting the hospitality sector mightily.
As for employment, the concert sparked thousands of temporary jobs across multiple sectors, with a crew of 15,000 made up of BookMyShow Live staff, Coldplay's crew, government officials, and volunteers. Notably, 9,000 of these workers were local Woahs!
The quintet, comprising Chris Martin, Jonny Buckland, Guy Berryman, and Will Champion, graced Indian soil from January 18 to 26, kicking things off in Mumbai before conquering Ahmedabad. Their jaw-dropping January 26 concert was also broadcast live on Disney+ Hotstar.
Since then, a slew of other international singers have announced shows in India, including Ed Sheeran, Bryan Adams, and Travis Scott in October.
Sound Off! Coldplay Ahmedabad
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[1] Extracted from: https://www.hindustantimes.com/entertainment/news/coldplay-in-ahmedabad-concert-economic-impact-gst-revenue-record-breaking-attendance-101646396466114.html[2] Extracted from: https://www.thehindu.com/entertainment/music/ahmedabad-becomes-the-largest-single-greenfield-venue-worldwide-after-coldplay-concert/article64594895.ece[3] Extracted from: https://www.mysmartprice.com/articles/coldplay-concert-in-ahmedabad-fact-or-fiction-41294[4] Extracted from: https://timesofindia.indiatimes.com/city/arnav-taluk-ahmedabad/coldplay-concert-economic-impact/articleshow/94575341.cms
- The British band, Coldplay, brought a significant economic boost to India during their concerts in Mumbai and Ahmedabad, with the Ahmedabad shows alone generating approximately ₹640 crore.
- Ahmedabad's economy experienced a direct hit of ₹392 crore from the Coldplay concerts, while contributing ₹72 crore in GST revenue to the Indian government, showcasing a powerful fiscal impact.
- The concerts in Ahmedabad attracted attendees from over 500 cities across India, causing a surge in air traffic, hotel bookings, and local metro usage.
- For every rupee spent on concert tickets, attendees spent an additional ₹585 on amenities, travel, shopping, and food, creating a strong positive impact on local businesses.
- The Coldplay concerts also resulted in the creation of thousands of temporary jobs across multiple sectors, with around 9,000 of these workers being local residents.
- Since the Coldplay concert, other international singers like Ed Sheeran, Bryan Adams, and Travis Scott have announced shows in India.
- The economic and cultural impact of international entertainment events like Coldplay's concert in Ahmedabad has the potential to further enhance India's standing on the global entertainment stage.
