Taylor Swift is a “walking GDP”: Shanghai to abolish restrictions on foreign stars

China’s financial hub has hosted many large-scale commercial performances in recent years, but “there is a lack of stars with weight, international influence or real appeal to young people,” said an article by the Shanghai Municipal Government’s Advisory Office posted on the company’s official WeChat account.

They said global pop sensation Swift’s record-breaking Eras Tour demonstrated the economic benefits of hosting performances by artists of this caliber.

“This is the largest and highest-grossing private concert tour in history, generating over $5 billion in consumer spending to date. It is literally a ‘walking GDP,'” the consultants wrote.

02:14

Taylor Swift’s Singapore concert attracts fans from all corners of Southeast Asia

Taylor Swift’s Singapore concert attracts fans from all corners of Southeast Asia

Hosting international performances in China is a complex process that involves numerous regulations and restrictions. The Chinese government has been reluctant to approve large-scale events, especially those featuring foreign artists, due to concerns about cultural influence and security checks.

They also called for larger venue capacities and flexible ticket prices.

The consultants suggested relaxing the requirement to use the correct name when purchasing tickets and exploring alternative identification methods – such as account-based payments or bank card payments – to simplify the process for international visitors.

Growth in the events industry has skyrocketed over the past year, driven by a tremendous recovery in consumer demand for live entertainment.

Total box office revenue from large concerts – those with more than 5,000 spectators – hit a record high of nearly 14.6 billion yuan ($2 billion), according to a report released in April by the China Performance Industry Association, concert producer Damai and social media platform Weibo.

What is particularly noteworthy is that 68 percent of visitors “came for a show” – a new record, the report says.

Shanghai is already a busy hub for cultural events and is currently experiencing a significant increase in demand for live performances.

In the April box office report, Shanghai’s major concerts ranked first nationwide, while theater performances came third. The city also ranked in the top five for the number of shows hosted.