Bad Bunny concert in Colombia will be an opportunity to boost the local economy

Photo: Twitter @Bunny_oficial

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2022 has been a year marked by the high supply and demand for live music in Colombia, and in addition to favoring the recovery of this industry, it is a fact that positively impacts the local economy in general.

According to DANE figures, the Colombian economy grew by 18.5% in the first quarter of 2022, compared to the same period in 2021. This growth has been, in part, thanks to artistic activities and live entertainment, because this is the third industry that has boosted the economy the most and has achieved a growth of 35.7%.

In addition to greatly influencing the economic reactivation of the country, concerts, events and festivals play a fundamental role in attracting local and international visitors, who usually highlight the folklore, energy and warmth of Latin American destinations.

According to Ministry of Commerce, Industry and Tourism, It is estimated that non-resident visitors to Colombia increased by 175.8% between January and August 2022 compared to these same months in 2021.

Taking this scenario into account, Airbnb highlights the economic opportunity that thousands of locals can find, thanks to the possibility of offering their spaces during seasons such as the three concert dates of the Puerto Rican artist, Bad Bunny, who returns to Colombia with his fourth musical tour in November, one of the most important and successful of his career.

It should be noted that each Bogota Host who shared their spaces through Airbnb during the first semester of 2022 obtained an average profit of US$274.

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Benito Martínez, “Bad Bunny”, has positioned himself as one of the most influential urban genre singers in the world. In August of this year, he even stole the limelight from the headlines of the media by being chosen as the best artist of the year, according to the MTV VMA (Video Music Awards).

In turn, the artist’s most recent tour has been rated as the second most lucrative tour in the world. According to figures reported by Billboard, as of September 2022 it had grossed around US$123.7 million and sold more than 500,000 tickets.

Making history and breaking schemes, the interpreter of “Me porto bonito”, “Ojitos Lindos” and “Safaera” will arrive in Medellín on November 18 and 19 and in Bogotá on November 20.

Both the city of eternal spring and the Colombian capital are waiting for the show that will give much to talk about and, also, the great boost that this important event will give to local tourism.

In fact, The Mayor’s Office of Medellín foresees US$8 million in spending by visitors, motivated by tourist activity and the arrival of 9,000 national and international visitors on these dates, which will generate an occupancy of over 90%.

“Without a doubt, concerts, festivals and live events are a key factor in boosting the country’s economy and are also an opportunity, not only for visitors who can enjoy all the tourist potential that cities like Bogotá and Medellín have, but also for all the places that have the possibility of offering a space and sharing it with travelers”, concluded Roberto Rizo Patrón, operations manager at Airbnb for Spanish-speaking South America.

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Bad Bunny concert in Colombia will be an opportunity to boost the local economy