BTS revives US economy, with impact rivaling the World Cup, Guardian says

BTS is back after four years — and the group is waking up the American economy along with its fan base. Through their North America world tour, the seven-member act is turning entire cities into sprawling theme parks, giving rise to what observers are calling "BTSnomics."

The Guardian recently reported that BTS, now deep into a world tour that breaks a four-year hiatus, is generating strong economic ripple effects across the United States.

The group is performing 16 concerts across seven American cities through August and September. During four consecutive sold-out shows in Las Vegas in May, BTS generated an estimated $340 million in economic impact — from large hotels on the Strip to small cafes in Chinatown — and the Guardian said expectations are high for what the rest of the tour will bring.

BTS's return is also showing up in the earnings of their agency, Hybe. The company posted quarterly sales of approximately 1.45 trillion won ($1.01 billion) in its most recent quarter, the highest in its history.

Michael Mariano, head of economic development at Tourism Economics, a global economic analysis firm, told the Guardian that "even looking only at fans' non-ticket spending — accommodation, food and beverage, flights — the economic impact BTS generates will match or even surpass that of the FIFA World Cup."

The Guardian highlighted the cultural reach of the "BTS the City" project, which has partnered with local businesses and cultural institutions. The Korean Cultural Center New York has been transformed into a hub where fans can try K-beauty products and customize their Army Bomb light sticks, while the immersive media art venue Arte Museum drew festival-goers with a multisensory exhibition blending BTS's music with Korean aesthetics.

Lee Seong-jin, vice president of d'strict, the company that operates Arte Museum, told the Guardian: "Just as Arirang, a folk song passed down for centuries, has been reinterpreted by each generation, this is an opportunity to share Korea's great cultural heritage and contemporary digital art with the world through the lens of BTS."

Local businesses have responded with equal enthusiasm. New York's oldest Korean charcoal grill restaurant, Newwonjoo, and Seoul Bingsu, which joined as a pop-up, drew tourists with special menus built around dishes BTS members are known to enjoy — samgyeopsal, jjajangmyeon, kimchi fried rice and bingsu.

Jacob Baik, art director at Newwonjoo, said the restaurant did not simply slap the BTS name on its menu. "We planned the menu authentically, rooted in Korean culinary culture," he said. "We hope the guests who visit through this project develop a genuine interest in hansik and Korean culture as a whole."

The effort is reshaping the spending habits of local fans and New York residents alike. An 18-year-old fan crossed from New Jersey to Manhattan just to try bingsu; a New Yorker in her 20s visited a Korean restaurant for the first time after trying a BTS-branded drink; a 40-year-old interior designer took a BTS-themed bus tour to rediscover her own city. The scope of K-culture experiences on offer has expanded dramatically.

Yoon Bo-ra, visual arts officer at the Korean Cultural Center New York, said K-pop is serving as "a massive gateway that leads people to discover not just the Korean language, but all aspects of Korean culture — beauty, food, technology and tourism."