Oasis reunion will give ‘supersonic’ economic boost to UK, say business groups
Next summer’s Oasis concerts come after analysts estimated that Taylor Swift’s recent Eras tour lifted the UK economy by as much as £1 billion.
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Your support makes all the difference.Oasis’ newly announced tour marks one of the most long-awaited reunions in music – and businesses near the gig venues will be almost as excited as fans, experts say.
The Britpop band, led by brothers Liam and Noel Gallagher, have announced a series of tour dates spanning London, Manchester, Cardiff, Edinburgh and Dublin next summer.
Thomas Pugh, economist at RSM UK, said the tour will “undoubtedly be a phenomenal sellout, which will also cause a spike in demand for accommodation and hospitality in those cities lucky enough to be hosting a gig.
“This potentially presents a very profitable opportunity for the hospitality industry, especially hoteliers.
“For example, Taylor Swift and the Foo Fighters saw hotel prices in Cardiff, which will also host an Oasis gig, rise by up to 500%.”
It comes after Taylor Swift’s Eras tour was cited by some finance experts for boosting restaurants and hotels in the cities where she performed this summer, partly as a result of inbound tourism for the dates.
Research by analysts from Barclays predicted earlier this summer that the pop star could bring a £1 billion boost to the UK.
Sacha Lord, night time economy adviser for Greater Manchester, estimated the band’s run in the city would benefit the city’s economy by more than £15 million.
“The impact of welcoming 80,000 people each night for the four planned gigs at Heaton Park cannot be underestimated,” she said.
“Events aren’t just about ticket sales, they have huge impacts on the local area and our hotels, pubs, bars, restaurants will all see the benefit, including extra hours for staff, as well as renewed global attention on the region and its cultural history.”
Confirming the Oasis Live 25 tour, the band said: “The guns have fallen silent. The stars have aligned. The great wait is over. Come see. It will not be televised.”
The band’s website, oasisinet.com crashed around the time of the announcement.
Susannah Streeter, an analyst at the financial firm Hargreaves Lansdown, said: “Websites crashing on the announcement shows how desperate fans will be to get their hands on tickets to see the brothers reunite, and if they are successful, they are unlikely to hold back on spending.”
Ms Streeter added: “The spending power of Swifties was estimated to have brought a £1 billion boost to the UK economy, and while spending by Oasis fans might not reach those heady heights, they are unlikely to hold back from splashing the cash to celebrate the brothers’ return.”
The UK and Ireland tour will start at Cardiff’s Principality Stadium, and also visit Manchester’s Heaton Park, London’s Wembley Stadium, Edinburgh’s Murrayfield Stadium and Dublin’s Croke Park throughout July and August next year.
Kate Nicholls, chief executive of trade group UKHospitality, said: “It’s clear the pull of live music is as strong as ever. Hotels will get booked up quickly as fans secure tickets, and pubs, bars and restaurants will all be packed next summer with concert-going fans.”
While there are also plans for tour dates outside of Europe, Liam clarified on X, formerly Twitter, that the UK and Ireland leg of the tour is “the band’s exclusive European appearances”.
Joss Croft, chief executive of tourism trade body UKinbound, said major music events are “not only beneficial for the UK music industry, but a super boost for our inbound tourism, drawing visitors from around the world to experience the best of what the UK has to offer”.
Fans have been pleading with brothers Liam and Noel Gallagher to regroup since they disbanded in 2009, prompted by a backstage brawl at the Rock en Seine festival in Paris.
Even before the announcement, speculation of a possible reunion had provided a boost on streaming services.
Spotify said Oasis streams increased more than 160% globally between Monday and the previous week.
“The increase in streams was continuing to grow throughout yesterday,” the music platform added.
Oasis released their chart-topping debut album Definitely Maybe three decades ago.
Muniya Barua, deputy chief executive at trade group BusinessLDN said the tour could provide a “supersonic boost” in the capital, adding that the impact of such events was proof the Government should reinstate a rule where overseas visitors in British shops can get a refund on Value Added Tax.