Report: Music Tourism Market to Reach $400.5 Billion by 2032

The projection comes from Credence Research, which predicts a yearly growth rate of 18.6%

Credence Research, a prominent market research provider, has released a report projecting that the global music tourism market will be valued at $400.5 billion by 2032. This rate is based on a predicted compound annual growth rate (CAGR) of 18.6% from the market’s 2024 valuation of $102 billion.

The growing market:

Global music festivals, such as Coachella, Glastonbury, and Tomorrowland, continue to grow and attract more tourists.
This fuels travel, hospitality, and entertainment services.
Millennials and Gen-Z are opting to use disposable income for travel and experiences rather than material goods.
Tourism boards in various countries are promoting music events and using them as opportunities to establish partnerships with airlines, hotels, and local businesses.
Digital platforms such as streaming services are marketing events to global audiences within their UX.
Regions like Asia-Pacific, Latin America, and Middle East & Africa are hosting more events that rival the scale of those in North America and Europe. Travel to these regions is becoming more accesible as well.
Hybrid/virtual experiences are opening new sources of revenue for music events.

Growth barriers:

The cost associated with music tourism is considerable, taking into account event tickets, flights, and accommodations.
Large gatherings like festivals can be associated with dangerous situations related to crowd management. One example is the crowd crush at Travis Scott’s festival, Astroworld.

The growing market:

Global music festivals, such as Coachella, Glastonbury, and Tomorrowland, continue to grow and attract more tourists.
This fuels travel, hospitality, and entertainment services.
Millennials and Gen-Z are opting to use disposable income for travel and experiences rather than material goods.
Tourism boards in various countries are promoting music events and using them as opportunities to establish partnerships with airlines, hotels, and local businesses.
Digital platforms such as streaming services are marketing events to global audiences within their UX.
Regions like Asia-Pacific, Latin America, and Middle East & Africa are hosting more events that rival the scale of those in North America and Europe. Travel to these regions is becoming more accesible as well.
Hybrid/virtual experiences are opening new sources of revenue for music events.

Growth barriers:

The cost associated with music tourism is considerable, taking into account event tickets, flights, and accommodations.
Large gatherings like festivals can be associated with dangerous situations related to crowd management. One example is the crowd crush at Travis Scott’s festival, Astroworld.

The growing market:

Global music festivals, such as Coachella, Glastonbury, and Tomorrowland, continue to grow and attract more tourists.
This fuels travel, hospitality, and entertainment services.
Millennials and Gen-Z are opting to use disposable income for travel and experiences rather than material goods.
Tourism boards in various countries are promoting music events and using them as opportunities to establish partnerships with airlines, hotels, and local businesses.
Digital platforms such as streaming services are marketing events to global audiences within their UX.
Regions like Asia-Pacific, Latin America, and Middle East & Africa are hosting more events that rival the scale of those in North America and Europe. Travel to these regions is becoming more accesible as well.
Hybrid/virtual experiences are opening new sources of revenue for music events.

Growth barriers:

The cost associated with music tourism is considerable, taking into account event tickets, flights, and accommodations.
Large gatherings like festivals can be associated with dangerous situations related to crowd management. One example is the crowd crush at Travis Scott’s festival, Astroworld.