Oasis fans splashing out hundreds of pounds each to see the band’s reunion tour will boost Britain’s economy by £487million.
Think tank the Centre for Economic Business Research (CEBR) predicts each fan will spend £406 in going to see the eagerly-anticipated sell out comeback tour.
The CEBR forecast of the half-a-billion boost estimates how much those attending gigs will fork out on hotels, travel, merchandise, and drinks, reported The Times.
But despite the massive spend, the figure is still dwarfed by the Taylor Swift mania that swept across the country during her UK leg of her Eras Tour, with calculations estimating each fan spent £848 to boost the economy by nearly £1billion.
According to the CEBR, Oasis fans will spend £175million on tickets, £71million on getting to the concerts and £73million on hotels.
However, that figure may be much higher as the analysis was carried out before ‘dynamic pricing’ which left fans enraged after standing tickets skyrocketed from £135 to £355 plus fees.
Oasis fans splashing out hundreds of pounds each to see the band’s reunion tour will boost Britain’s economy by £487million
Taylor Swift on stage at Wembley Stadium in London on June 21 during her Eras Tour
Fans are predicted to spend just over £187million for Oasis’ five Wembley gigs next summer, £161.2million at their homecoming shows in Manchester, and £79million in Edinburgh.
Just under £60million is estimated to be splashed out by fans for the Cardiff gigs.
However, some Oasis fans have already expressed buyers’ regret after shelling out hundreds of pounds for the band’s reunion gigs amid a row over ‘dynamic pricing’.
Hundreds of people have now officially complained about how tickets were advertised after prices for the comeback tour soared when going on sale on Saturday.
And experts today suggested thousands of people were ‘misled’ as the Ticketmaster system pushed up the prices due to the huge demand, while consumers told how they would be paying off the costs for as long as a year.
Buyers were left shocked by standard tickets more than doubling from £148 to £355 on Ticketmaster due to demand, the Culture Secretary pledged to look into the use of surge pricing in a forthcoming Government review of the secondary gig sales market.
Many fans also missed out on the reunion tour tickets as they battled with website issues, and being mislabelled as bots, before Oasis announced all 17 shows in the UK and Dublin had sold out.
Social media users shared their dismay after committing to tickets despite prices surging far higher than originally expected.
The official Oasis account on X, formerly Twitter, announced on Sunday evening that all the reunion concerts had now sold out
Noel (left) and Liam Gallagher (right), pictured here at a Teenage Cancer Trust charity concert at London’s Albert Hall in March 2003, have faced flak over their reunion tour ticket prices
Fans found themselves in queues of up to 11 hours when tickets went on sale on Saturday
Noel Gallagher (left) and brother Liam (right) appear to have ended their 15-year feud by agreeing to the reunion taking in live concerts across the UK and ireland including Wembley
Danilo Rocha told how he wanted to resell his tickets after buying them, posting to Ticketmaster’s account on X, formerly Twitter: ‘Why can’t I put my tickets on the market place?
‘I was able to get 2 tickets, but later came the regret to have paid over 100% of the listed price. Your dynamic pricing sucks!’
Meanwhile, analysts claimed the UK economy had been boosted by Taylor Swift’s Eras Tour.
The pop star played sell-out shows in Edinburgh, Liverpool and Cardiff as well as three in London – with hotel prices then falling after she left Britain, although there could be another boost after she returned to Wembley.
Swift’s fans, known as ‘Swifties’, are expected to boost the London economy alone by £300million as the capital hosts more Eras Tour shows than any other city in the world, with nearly 640,000 people expected to attend across the eight dates.
City analysts said the economy was also boosted by fans splashing out on train tickets and restaurants – in addition to busy pubs during the Euro 2024 tournament.
Taylor Swift performs during her Eras Tour at Wembley Stadium in London on June 23
Fans outside Wembley Stadium ahead of Taylor Swift’s first London concert on June 21
Fans walk towards Wembley Stadium on June 21 ahead of Taylor Swift’s first London concert
Susannah Streeter, head of money and markets at Hargreaves Lansdown, told MailOnline in August: ‘The Taylor Swift effect also appears to have a slight hand in these figures, as the main downwards pressure on inflation was a fall in hotel room costs from June, when she was on her UK tour.
‘Pop star Pink’s UK appearances also saw spikes in prices in some cities in June.
‘It now seems more unlikely that the surge-pricing effect will turn into a recurrent inflationary pressure, as it clearly depends on the brightness of the stars.’
It comes after a Barclays ‘Swiftonomics’ report issued in July found Swift’s tour is expected to provide a £997million boost to the UK economy.
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Publish date : 2024-09-02 07:36:00
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