Global Music Tourism Growth Drivers 2025, Forecast To 2034
19 Mar, 2025
What Has Been The Evolution of the Music Tourism Market in Recent Years?
The music tourism market has seen considerable growth due to a variety of factors.
• There has been substantial growth in the music tourism market size in recent years. The market is expected to expand from $5.97 billion in 2024 to $6.53 billion in 2025, achieving a compound annual growth rate (CAGR) of 9.4%.
The historic growth trend is as a result of factors such as the emergence of iconic music festivals, the worldwide dissemination of well-liked music genres, the setting up of museums and landmarks inspired by music, the expansion of music recording and production sectors, and the impact of renowned musicians and bands.
What Are the Future Growth Projections for the Music Tourism Market?
The music tourism market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for an impressive surge in the music tourism market size in the coming years. The market is projected to expand to $9.22 billion in 2029, marking a Compound Annual Growth Rate (CAGR) of 9.0%.
Factors contributing to this potential growth during the forecast period include the incorporation of augmented reality and virtual reality experiences, the burgeoning of unique and specific music festivals, the rise of eco-friendly and sustainable music tourism initiatives, increasing affinity towards music-centric cruises and tours, and the proliferation of music streaming platforms. Key trends anticipated during this period consist of a demand for personalized music experiences, a focus on sustainable practices, the merging of technology, the blend of health and wellness, and collaborations between music festivals and local tourism boards.
What Are The Core Factors Supporting Growth In The Music Tourism Market?
Growth in the music tourism market is anticipated to be fueled by the escalating trend of national and international music events. National music events refer to concerts or festivals taking place within one country, whereas international music shows encompass artists and crowds from numerous countries, typically held at various global locations. The surge in both national and international music events can be attributed to the progression of globalization, advancements in online marketing, and an increasing consumer inclination towards distinctive and engaging live entertainment. Music tourism amplifies these music events on both the national and international stage by enticing varied audiences, augmenting economic profits, and magnifying the cultural exchange and exposure of the hosting locales. For instance, a research released by the American Economic Liberties Project, a non-profit organization based in the US, stated in June 2023 that approximately 50% of the overall concert sales in 2022 were credited to top venues. Moreover, ticket sales from the top 100 amphitheaters generated as much as $814.0 million, with the leading 200 arenas contributing an astounding $4,489.3 million. Thus, the upswing in national and international musical events is notably propelling the expansion of the music tourism market.
What Are The Major Segments Within The Global Music Tourism Market?
The music tourismmarket covered in this report is segmented –
1) By Type: Local Music, International Music
2) By Tourist: Pay To Visit, Get Paid To Visit
3) By Industry Vertical: Music Tourism, Fashion Tourism, Food Tourism, Sports Tourism, Medical Tourism, Other Industry Verticals
Subsegments:
1) Local Music:Regional Music Festivals, Traditional Music Events, Folk Music Tours, Local Artist Performances, Cultural Music Experiences
2) International Music: International Music Festivals, World Music Tours, Global Artist Performances, International Concert Tours, Cross-cultural Music Experiences
What Trends Are Reshaping The Future Of The Music Tourism Market?
Leading businesses in the music tourism sector are creating inventive offerings such as night cultural tourism products to facilitate unique and unforgettable experiences. Night cultural tourism encompasses the exploration and participation in cultural activities and attractions like shows, festivals, and visits to historical landmarks during the evening and nighttime. As an example, in March 2024, Hanoi Opera House, an Opera house located in Vietnam, introduced Music Garden. The distinct aspect of this tourism product is the Hanoi Opera House's Music Garden, an exterior venue where various embassies collaboratively organize cultural and musical events with the goal of bringing international music to the people of Vietnam. From 9 am to 12 pm and 1 pm to 6 pm, it schedules performances featuring traditional musical instruments and classical music, while from 7:30 pm to 10 pm, there are classical music concerts and performances from both local and global singers.
Who Are the Key Players In The Music Tourism Market?
Major companies operating in the music tourism market are:
• Anschutz Entertainment Group
• Live Nation Entertainment Inc.
• Ticketmaster Entertainment LLC
• Pollstar LLC
• Vivid Seats LLC
• VenuWorks Inc.
• StubHub Inc.
• Eventbrite Inc.
• SeatGeek Inc.
• Front Gate Tickets LLC
• Glastonbury Festivals Ltd.
• Songkick.com Inc.
• The Air Group (TAG) Ltd.
• Only Much Louder Entertainment Pvt. Ltd.
• Festicket Ltd.
• C3 Presents LLC
• AEG Presents LLC
• Bandsintown LLC
• ID&T Belgium BVBA
• Percept Limited
• Festival Ticketing Ltd.
• ACFEA Tour Consultants Inc.
• Global Spectrum L.P.
• SFX Entertainment Inc.
• Gigantic Tickets Ltd.
What Is The Most Dominant Region In The Music Tourism Market?
North America was the largest region in the music tourism market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the music tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.