Who are BTS and How are They Boosting SK’s Economy?

BTS is a boyband from South Korea who know how to change the rules of the game in the music industry.

These guys are at the top of the official music charts in the UK, USA, and Canada. They’re the most requested act to perform at an award ceremony. They are official ambassadors for UNICEF and TIME magazine called them the next generation leaders and most influential people of 2019.

Recent studies have shown that they’re also generating a great positive impact on the economy and culture of their country of origin.

Who are BTS and How are They Boosting SKs Economy 1 - Who are BTS and How are They Boosting SK's Economy?

Economic Effects

BTS has generated an income of more than 4 trillion won or $3.54 billion for South Korea’s economic value in 2019 alone. Never has a South Korean artist had such an impact in or outside the country.

It’s said that within 10 years, BTS will reach a figure of 56.2 trillion won or $49.8 billion.

Tourism

Since this group of young men became known, tourism has increased in the Asian country. More than half of the young people who visit the country say that BTS has been the motivating factor for them to travel and get to know this new country and culture.

The Ministry of Tourism has verified that most visited places have to do with BTS.

Export Goods

Every month, South Korean products are more in demand by young people in other countries. Products such as make-up, clothes, and food-related items branded as BTS are the most requested.

In 2016, the stocks of entertainment companies were seriously affected by China’s THAAD ban. Thanks to BTS, the investment shares of entertainment companies improved by focusing on the European and American markets.

If you haven’t heard this group of seven talented boys, it’s time you do. Don’t be left behind and listen to their catchy tunes. They will surely make you dance, get to know South Korea like the rest of their loyal fans and be part of the BTS effect.