Beyoncé, Harry Styles and Blur Helped Boost UK Economy by $10 Billion in 2023

The U.K. economy was given a massive boost last year by concerts and music festivals.

According to new research released on Tuesday, the U.K. live music industry reached record highs in 2023, bringing in $10.3 billion for the country's economy with the help of sold-out events like Glastonbury Festival and mega-grossing stadium shows by Beyoncé, Harry Styles, and Blur.

This year, figures will probably be even higher after Taylor Swift's mega-successful 15-date U.K. "Eras Tour."

Research by U.K. Music found that 18.2 million people traveled from within the U.K. in 2023 to attend music events, including Styles' world tour, Beyoncé' first tour in seven years, and British rock band Blur's first U.K. gig since 2015 at Wembley Stadium in London.

There were 13.3 million domestic music tourists in 2022, which meant that 2023 saw a 36% increase from the previous year.

In total, 19.2 million people, including over 1 million foreign music tourists, attended live music events in the country last year, marking a 33% increase from 2022.

Employment in the music industry is also growing, with music tourism helping 62,000 keep their jobs last year -- an increase of more than 17% from the previous year.

In a statement, U.K. Music chief executive Tom Kiehl said that the record numbers demonstrate "the positive impact music tourism has on our towns and cities."

However, he claimed that except a few very successful musicians, many artists' opportunities are "becoming increasingly squeezed."

Kiehl added that grassroots music venues, festivals, studios, and rehearsal spaces currently face "tough economic pressures." He noted that it is important that "the music ecosystem that enables musicians and artists to perform is supported" to ensure everyone can access music.

The U.K. is the world's third-largest recorded music market and the second-largest music exporter globally after the U.S. and Japan.

"The UK's thriving music industry continues to be one of our most powerful global exports and an important driver of economic growth," U.K. Culture Secretary Lisa Nandy said.

Furthermore, she said the government will "work hard" to ensure their "creative industries get the support they need to flourish, driving opportunity and economic growth into every community and inspiring the next generation of performers."

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Beyonce, Blur, Harry Styles