Expert comment: the economic impact of the Oasis reunion tour

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Categories:Salford Business School

Salford Business School's Dr Richard Whittle, shares his thoughts on the potential economic impact of the Oasis reunion tour. Richard also shares insight on what this could mean for local economies, like Manchester, where consumers are set to spend considerably.

"The long-rumoured Oasis reunion is rumour no longer. The estranged Gallagher brothers have announced a new tour with dates in Manchester, London, Edinburgh, Cardiff and Dublin. Estimates already abound of the likely income for the band from this, with Birmingham City academics suggesting £400m in ticket and merchandise sales with the brothers set to receive £50m each. Events, hospitality and accommodation in the five announced locations, across the 14 dates, are set for a boost too. Manchester - hosting four of the concerts - will reap all the benefits of a large influx of Oasis fans. Where else would you want to see the famous Mancunian band!

"As well as spending on somewhere to stay, visitors to the city will visit the shops, use the transport network and likely visit other local attractions. All in all, a boom for the local economy. Oasis has a global fanbase, international fans may take this opportunity to visit Manchester and if they do, they will on average spend around £500 in the Manchester economy on their trip. All in all, a huge gain to wherever the concerts are being held.

"Oasis is tight lipped around the timing of this reunion, with the band noting perhaps the subconscious influence of the upcoming 30th anniversary of their breakthrough Definitely Maybe album as a factor. The 90s are back in fashion and perhaps an Oasis fan who missed out on a concert the first time around has - 30 years later - the disposable income to embrace it this time. We certainly see this trend in collectables and the explosions of value, for example of Star Wars toys. People in their late 40s and early 50s, when they have the higher disposable incomes of that age, go and buy what they missed out on that was cool in their teenage years. Someone who couldn't afford to see Oasis as an 18-year-old, when Definitely Maybe came out in August 94, might well indulge the nostalgia and spend big to see them now."

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