How does Bad Bunny’s World’s Hottest Tour impact the economy of destinations?

Are you ready to sing all the hits from “A Summer Without You” along with “bad rabbit”? November is the most anticipated month of the year for all reggaeton fans and followers of Bad Bunny in Colombia, Well, after four years of not visiting the country, he arrives with his fourth musical tour, one of the most important and successful of his career.

2022, especially, has been a year marked by the high supply and demand of live music in Colombia, and in addition to favoring the recovery of this industry, it is a fact that has a positive impact on the local economy in general. According to figures from DANE, 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 live artistic and entertainment activities, as This is the third industry that has boosted the economy the most and has achieved growth of 35.7%.

In addition to largely influencing the country’s economic reactivation, concerts, events, and festivals play a fundamental role in attracting local and international visitors, who tend to highlight the folklore, energy, and warmth of Latin American destinations. According to the Ministry of Commerce, Industry and Tourism, it is estimated that non-resident visitors to Colombia increased by 175.8% between January and August of 2022 compared to these same months of 2021.

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Considering this scenario, 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, which will take place on the third weekend of November. It should be noted that each Bogota Host who shared their spaces through Airbnb during the first half of 2022 obtained an average profit of US$1,274.

The second most lucrative tour worldwide

Benito Martínez, “Bad Bunny”, has positioned himself as one of the singers of the urban genre most influential in the world. In August of this year, he even stole the limelight from the media headlines 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 described as the second most lucrative tour in the world. According to figures reported by Billboard, as of September 2022, it had raised around 123.7 million dollars and sold more than 500,000 tickets.

Making history and breaking schemes, the interpreter of “Me porto bonito”, “Ojitos lindos” and “Safaera” will arrive on November 18 and 19 in Medellín and on November 20 in Bogotá. 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 Medellin’s town hall It 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 rate of over 90%.

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“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 venues that have the possibility of offering a space and sharing it with travelers. Platforms like Airbnb are an option for Hosts to earn extra income during concert days and for visitors to enrich and complement their experience”, he highlighted. Roberto Rizo-Patron, Operations Manager at Airbnb for Spanish-speaking South America.

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