Business groups: Oasis reunion to deliver ‘supersonic’ UK economic boost

Oasis’ newly announced tour marks one of the most long-awaited reunions in music, and businesses near the gig venues are almost as excited as fans, according to experts.

The Britpop band, led by brothers Liam and Noel Gallagher, have revealed 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,” he added. “For example, Taylor Swift and the Foo Fighters saw hotel prices in Cardiff rise by up to 500%.”

The announcement follows Taylor Swift’s Eras tour, which finance experts credit for boosting restaurants and hotels in cities where she performed, partly due to inbound tourism. Research by Barclays analysts earlier this summer predicted the pop star could bring a £1 billion boost to the UK.

Sacha Lord, night time economy adviser for Greater Manchester, estimated that the band’s run in the city would benefit the local 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. Our hotels, pubs, bars, and 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 financial firm Hargreaves Lansdown, pointed out that websites crashing during the announcement shows how desperate fans are to get their hands on tickets. “If they are successful, they are unlikely to hold back on spending,” she added.

Ms. Streeter added that while the spending power of Oasis fans might not reach the same heights as Swifties, they will still likely spend generously to celebrate the brothers’ return.

The UK and Ireland tour will start at Cardiff’s Principality Stadium and will 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, commented, “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 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 also 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 official announcement, speculation of a possible reunion had provided a boost on streaming services. Spotify noted that 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. He added that the impact of such events was proof that the Government should reinstate a rule whereby overseas visitors in British shops can get a refund on Value Added Tax.

Source: PA Archive, PA Wire