Lady Gaga’s four-night “Mayhem Ball” concerts in Singapore, scheduled for May 18, 19, 21, and 24, 2025, at the National Stadium, are expected to provide a significant boost to Singapore’s economy, though likely not to the same extent as Taylor Swift’s six-night “Eras Tour” in March 2024. Swift’s concerts generated an estimated S$300–400 million in economic activity, contributing about 0.2% to Singapore’s GDP for that quarter, driven by over 300,000 attendees, including many international tourists. Gaga’s concerts, as her only Asian stop, are projected to attract around 200,000 visitors and generate S$100–250 million in tourism receipts, according to analysts from Singapore Business Review and EHL Hospitality Business School. This is lower than Swift’s impact due to fewer show nights, a slightly smaller fanbase among younger international travelers, and economic uncertainties like the US-China trade war affecting travel spending.
Economic Impact
The economic lift from Gaga’s concerts stems from increased tourism, with hotel bookings surging 202–358% during the concert week compared to the prior year, and flight searches rising 65.6% week-on-week after the announcement. Retail, hospitality, transportation, and entertainment sectors are expected to benefit as fans spend on dining, shopping, and local attractions. However, the impact is tempered by May being a quieter tourism period, allowing Singapore to absorb visitors without the overcrowding seen during Swift’s shows, which followed the Singapore Airshow. Additionally, Gaga’s fanbase, described as older and more conservative with spending, may not match the fervor of Swift’s younger, global audience, and weaker social media buzz compared to Swift’s tour could limit the “fan economy” effect.
Stocks Likely to Benefit
Several Singapore-listed companies across aviation, hospitality, transportation, and entertainment sectors are poised to gain from the influx of concertgoers. Below are key stocks and their potential benefits, based on available data:
Singapore Airlines (SIA) (SGX: C6L)
Why it benefits: SIA and its low-cost arm, Scoot, are expected to see a revenue boost from increased inbound flights, particularly from regional hubs like Seoul, Tokyo, and Sydney, and long-haul markets like Australia, India, and the UK. Bloomberg Intelligence analysts noted that Gaga’s concerts could drive first-quarter earnings growth for SIA, similar to the “holiday-like” surge during Swift’s shows, when inbound flight bookings hit post-pandemic highs. SIA’s KrisFlyer program, an official partner, offers priority ticket sales and mile redemption, attracting premium travelers.
Context: SIA reported a 146.7% net profit increase to S$1.6 billion for Q3 FY2025, partly due to a one-off gain, with Q4 travel demand expected to remain healthy despite competition. The concert-driven tourism spike could further bolster passenger volumes.
Stock consideration: SIA’s stock is sensitive to fuel costs and global travel trends, but the concert’s regional exclusivity strengthens its near-term outlook.
Genting Singapore (SGX: G13)
Why it benefits: Genting’s Resorts World Sentosa, home to Universal Studios Singapore and the SEA Aquarium, is expected to see a 30% increase in visitors as concertgoers combine Gaga’s shows with local attractions. The integrated resort’s hotels, dining, and entertainment options are well-positioned to capture tourist spending.
Context: Genting Singapore benefits from Singapore’s growing “concert economy,” with high-profile events driving traffic to its properties. Its stock could see upside if tourism receipts meet or exceed projections.
Stock consideration: Genting’s performance is tied to regional tourism recovery, and the concert could provide a short-term catalyst.
ComfortDelGro (SGX: C52)
Why it benefits: As a major transportation provider, ComfortDelGro is seeing increased bookings for airport transfers, charter services, and sightseeing buses. The company plans to enhance public transport frequency around the National Stadium and introduce dedicated shuttle services, capitalizing on the expected 200,000 visitors.
Context: The concert’s timing in May aligns with a period of lower tourist traffic, allowing ComfortDelGro to efficiently handle demand without straining capacity.
Stock consideration: ComfortDelGro’s stable operations and exposure to event-driven tourism make it a reliable beneficiary, though gains may be modest compared to aviation or hospitality.
SATS (SGX: S58)
Why it benefits: SATS, a leading provider of airport ground handling and catering services, is likely to see increased activity from the surge in international arrivals at Changi Airport. While not as significant as SIA’s boost, SATS’ operations align closely with aviation traffic, and the concert’s regional draw could drive incremental revenue.
Context: A comment on moomoo’s community platform noted SATS as a “tangible beneficiary” due to higher passenger volumes, though the overall revenue impact may be limited compared to other sectors.
Stock consideration: SATS’ stock is less volatile than SIA’s but could see steady gains from event-driven travel.
MM2 Asia (SGX: 1B0)
Why it benefits: As a regional entertainment company involved in event production and media, MM2 Asia could indirectly benefit from Singapore’s concert economy, especially if it has ties to event promotion or merchandise distribution. However, a moomoo community user questioned why MM2 Asia’s stock hasn’t seen more investor interest despite the concert’s economic potential, suggesting limited direct exposure.
Context: MM2 Asia’s involvement in the entertainment sector positions it to capitalize on high-profile events, but its benefit may depend on specific contracts or partnerships for Gaga’s shows.
Stock consideration: MM2 Asia is a speculative play, with less clear upside compared to SIA or Genting unless confirmed as a direct partner.
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