Music tourism tipped to reach $400.5bn by 2032

The music tourism market is on target to reach US$400.5 billion (€342.2bn) by 2032 as territories step up their efforts to capitalise on the trend.

According to a new report by Credence Research, the global market was valued at $102bn last year and is projected to grow at a compound annual growth rate (CAGR) of 18.6% over the forecast period.

The report credits rising demand for live music experiences, festivals and destination-based events “that combine travel with entertainment”, noting that millennials and Gen-Z, in particular, are prioritising travel experiences over material goods.

North America and Europe are said to be at the forefront of the growth with festivals such as Coachella, Glastonbury and Tomorrowland namechecked, while Asia-Pacific is also emerging as a rapidly expanding hub.

“The industry benefits from the increasing popularity of mega music festivals, cross-border travel for concerts, and digital platforms that boost global visibility of live events,” reads the study. “Partnerships between tourism boards, event organisers, and hospitality providers are further strengthening the ecosystem by offering bundled travel and event packages.

“The market’s expansion is also supported by rising disposable incomes and consumer preference for cultural experiences, making music tourism a central part of lifestyle-driven travel spending worldwide.”

Furthermore, the study highlights emerging economies in Asia-Pacific, Latin America, and Africa as presenting “significant untapped opportunities”.

“Rapid urbanisation, rising middle-class populations, and improving travel infrastructure are boosting demand for international entertainment experiences”

“Rapid urbanisation, rising middle-class populations, and improving travel infrastructure are boosting demand for international entertainment experiences,” it says. “Local governments are also promoting cultural and music festivals to attract global tourists, creating favourable conditions for market growth.”

It also points to key opportunities around partnerships between event organisers, airlines, hotels, and travel agencies in “creating bundled packages that simplify planning for tourists”.

On a related note, Live Nation Spain has just announced a “pioneering” strategic alliance with travel industry leader World2Meet. Tailored trips will be created for music fans via the partnership, with personalised travel packages soon to be made available.

“Spanish fans experience concerts with an unparalleled passion,” says Pino Sagliocco, president of Live Nation Spain. “Music is the heartbeat of our culture, and each show becomes a celebration that extends from the stage to the streets of our cities. With World2Meet, we give fans the opportunity to transform that energy into a complete journey, discovering Spain through the music they love while also providing an important boost to local communities.”

The deal follows data published in 2024 by Amadeus showing that 49% of Spaniards had travelled to attend a musical event, and 79% had taken the opportunity to discover and explore the destination.

“This agreement with a leader like Live Nation Spain represents a decisive step in our strategy”

“This agreement with a leader like Live Nation Spain represents a decisive step in our strategy, allowing us to consolidate music tourism as a differentiating element within World2Meet’s value proposition,” adds Gabriel Subías, CEO of World2Meet. “Through this alliance, we reinforce our commitment to innovation in the sector and expand our capacity to bring travellers closer to major music events with a comprehensive service.”

Oasis’ recent Live ’25 reunion dates in Mexico reportedly generated up to 1 billion pesos (€46.1 million) in economic benefits for Mexico City. Ocesa said the sellout 12-13 September shows at GNP Seguros Stadium – the tour’s first stop in a Spanish-speaking country – pulled in more than 130,000 people across two nights.

According to the National Chamber of Commerce, Services and Tourism of Mexico City (Canaco), the concerts generated estimated revenue of between 850 million and 1bn pesos over the weekend.

The Indian state of Assam also recently launched an official concert tourism policy, which helped secure Post Malone’s debut headline show in the country.

Meanwhile, UK Music’s Hometown Glory report, published this summer, concluded that music tourists spent a record £10 billion (€11.7bn) at UK music events in 2024 – a 26% increase year-on-year. It cited acts such as Taylor Swift, Charli XCX, Bruce Springsteen, Sam Fender and Dua Lipa for helping attract 23.5 million music tourists to concerts and festivals in the UK last year – up 23% on 2023’s 19.2m.

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