Hong Kong Sevens, Art Basel no match for Taylor Swift’s economic power: experts
City’s ‘Super March’ of mega-events will give the economy a lift but won’t be able to generate ‘Taylor Swift effect’, academics say.
The Hong Kong Sevens rugby tournament and other mega-events being held during a month-long “Super March” campaign will boost the local economy but they are unlikely to generate a multiplier effect similar to concerts by US pop star Taylor Swift, experts have said.
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The Sevens, which run from Friday to Sunday, along with Art Basel and Art Central this week, cap off a month of mega-events that Chief Executive John Lee Ka-chiu had earlier dubbed “Super March” in a bid to push the city onto the global stage for arts, sports and entertainment.
The concentration of events led some to consider whether Hong Kong would be able to emulate the economic benefits of the “Taylor Swift effect” that other cities experienced when they hosted the US star during her record-breaking Eras tour in 2023 and 2024.
Swift’s tour, which skipped Hong Kong, created an economic multiplier effect for the tourism, hospitality and retail sectors. In the US, it was estimated to have created as much as US$5 billion in additional consumer spending.
Taylor Swift puts on a show as part of her Eras World Tour in Sydney, Australia. Photo: AFPBilly Mak Sui-choi, an associate professor with Baptist University’s department of accountancy, economics and finance, said Super March was “quite special” owing to the number of major events clustered together that could attract wealthy visitors.
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