SINGAPORE, July 4 — Lady Gaga’s four-night concert run at Singapore’s National Stadium in May may have generated as much as S$150 million (RM497 million) in tourism receipts for the country, according to economists.

While that figure trails the estimated S$350 million to S$500 million linked to Taylor Swift’s and Coldplay’s March gigs, experts told The Straits Times that Gaga’s residency still delivered a healthy boost to the Singapore economy.

US entertainment magazine Billboard reported that Gaga grossed US$40.8 million in ticket sales from her Singapore shows, with a combined audience of 193,000. These were her only ticketed performances in May.

Each Singapore concert, held on May 18, 19, 21 and 24, averaged around S$13 million in ticket revenue. The National Stadium can hold about 50,000 concertgoers.

According to The Straits Times, Maybank economist Brian Lee estimated the broader tourism impact of Gaga’s visit — including spending on hotels, food, shopping and entertainment — came in between S$100 million and S$150 million.

“Gaga’s concerts generated about half the revenue of Swift’s Singapore shows, which pulled in S$104 million,” he reportedly said.

“The smaller tourism boost from Gaga concerts compared to Taylor Swift is not surprising, given Gaga’s smaller and more niche following.”

Visitor arrivals in May 2025 rose by 8 per cent year-on-year, according to the Singapore Tourism Board (STB), compared to a much sharper 43.5 per cent surge during Swift’s six-day Eras Tour run in March.

“In contrast to Taylor Swift’s completely sold out shows, demand for Lady Gaga’s was more lukewarm with last minute tickets still available and resellers slashing resale ticket prices,” said Lee.

Checks showed tickets remained available in the week leading up to the shows, in contrast with Swift’s months-long sell-out frenzy.

Associate Professor Kiattipoom Kiatkawsin from the Singapore Institute of Technology attributed the smaller economic lift to Gaga playing fewer nights and releasing her Mayhem album only recently, whereas Swift was riding a wave of global popularity.

Still, Kiatkawsin saw value in the accumulation of such big-ticket events

“All three world-renowned artists, including Coldplay, may well be on par when it comes to economic impact as well as building Singapore’s reputation as a premier destination for global entertainment for the region,” he told The Straits Times.

He added that a strong run of global acts contributes to a “virtuous cycle” where successful concerts attract more artists, boosting inbound travel and reinforcing Singapore’s position as a vibrant hub for live entertainment.

Despite the strong first half of 2025, experts expect a quieter remainder of the year for mega concerts.

Big events are still on the calendar — the Singapore Grand Prix in October will be accompanied by performances from the Foo Fighters and Elton John, while K-pop icons Blackpink are due in November.

However, Lee cautioned that even with high-profile acts on the calendar, tourism may not be a major growth driver this year.

“The trade war and heightened global economic uncertainty will likely dampen both business and leisure travel,” he said.