Recent findings from a study by Visa, a digital payments processor, suggest that Filipino concertgoers who venture overseas show a higher spending capacity internationally and within the Philippines than those who do not attend concerts.
This trend has been attributed to the growing popularity of international acts performing in Southeast Asia (SEA), drawing a considerable number of Filipino fans to travel abroad specifically for these concerts.
According to the Visa research, Filipino concertgoers rank among the top 5 in the Asia Pacific region for overseas concert travel. There has been a resurgence in travel, with approximately 65% of surveyed Filipinos planning leisure trips abroad within the next 12 months. Among the top destinations favored by Filipino travelers include Japan, South Korea, and Singapore.
“Visa’s data-driven insights help businesses connect with concertgoers and many other targeted audiences through our trend analyses,” said Jeff Navarro, country manager for Visa Philippines.
For the purposes of the research, a Filipino concertgoer is defined as an individual who purchased concert tickets between April and December 2023, and traveled overseas for concerts between January and March 2024. These concert enthusiasts were found to spend significantly more during their travels compared to non-concertgoers, with an average expenditure that is 58% higher. Shopping emerged as the primary expenditure category, with luxury retail, apparel and accessories, and department stores being the top market segments.
Digital connectivity
Within the Philippines, concertgoers, known for their higher disposable income, have historically outspent non-concert attendees, particularly in Metro Manila, notably in the City of Makati, which boasts a significant population of concert enthusiasts. Their expenditure primarily centers around international brand apparel and accessories, luxury retail, and quick-service restaurants, often doubling the spending of their non-concertgoing counterparts.
Concertgoers, characterized by their digital connectivity and increased disposable income, exhibit a greater preference for online shopping activities, including flight bookings, e-commerce transactions, department store purchases, food delivery, and insurance services in the Philippines.
Visa Consulting & Analytics (VCA), Visa’s payments advisory arm, conducted an analysis using VisaNet data, uncovering a notable trend in the spending behaviors of Filipino travelers abroad and domestically.