Glastonbury and Coachella set the stage for $400bn music tourism growth

Music festivals including Glastonbury and Coachella are driving a boom in music tourism, with the global market forecast to reach US$400.5 billion by 2032, according to new research

The global music tourism market is expected to reach US$400.5 billion by 2032 thanks to the surge in demand for major festivals such as Coachella and Glastonbury.

New figures suggest the market, currently valued at US$102 billion in 2024, will expand by 18.6 per cent annually over the next seven years.

Growth is being fuelled by large-scale events such as Coachella in California, Glastonbury in the UK and Tomorrowland in Belgium, which attract millions of international visitors and create significant demand for travel and hospitality services.

Rising disposable income among younger consumers is also shifting spending towards experiences rather than material goods, according to research firm Credence Research.

Its global report, published yesterday, reveals that North America and Europe remain the largest markets, while Asia-Pacific is emerging as the fastest-growing region.

Tourism boards and governments are backing the trend through cultural tourism strategies, working with airlines, hotels and local businesses to improve access and affordability.

The India-based firm, which provides market intelligence and consulting services, said: “The industry benefits from the increasing popularity of mega music festivals, cross-border travel for concerts, and digital platforms that boost global visibility of live events.

“Partnerships between tourism boards, event organizers, and hospitality providers are further strengthening the ecosystem by offering bundled travel and event packages.

“The market’s expansion is also supported by rising disposable incomes and consumer preference for cultural experiences, making music tourism a central part of lifestyle-driven travel spending worldwide.”

The report also identifies barriers to growth, highlighting high travel and ticket costs as well as safety concerns at mass gatherings. Organisers are under pressure to invest in security, medical response and digital ticketing to maintain confidence among travellers.

Technology is also reshaping the sector, with mobile booking platforms, augmented and virtual reality concert experiences, and AI-driven recommendations broadening access and engagement.

Sustainable practices, including waste management and renewable energy at festivals, are becoming a differentiator for organisers seeking to appeal to younger, environmentally conscious audiences.

Credence Research described the competitive landscape as fragmented, with growth led by festival organisers, travel agencies, hospitality providers and digital platforms.

North America accounted for the largest share of the market in 2024, led by events such as Lollapalooza and Austin City Limits. Europe ranked second, supported by its network of major festivals and strong cross-border travel. Asia-Pacific is forecast to see the fastest growth as rising incomes and government-backed programmes expand international events in Japan, South Korea, Thailand and India.

Live Nation Entertainment, AEG Worldwide and ID&T Belgium are among the largest players, with companies increasingly focused on sustainability, bundled travel packages and technology-driven engagement.

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