Mega-Concerts Are Powering India’s Next Economic Boom

The recent Coldplay concerts in Ahmedabad, which drew over 222,000 fans to the Narendra Modi Stadium, were revealed in a new report from EY Parthenon and BookMyShow to be a significant economic driver for the region.

The report, titled “India’s rising concert economy,” details how the record-setting event generated a substantial ₹641 crore (approximately $77 million) and provides a blueprint for India to leverage the expanding global concert market.

The analysis in the report indicates that the Coldplay concerts directly injected ₹392 crore (around $47 million) into Ahmedabad’s economy and contributed ₹72 crore (about $8.6 million) to government tax collections through GST. Beyond the direct financial impact, Ahmedabad demonstrated its capacity to host world-class events. The city experienced a surge in visitors, with the airport handling a record 138,000 passengers over a mere three-day period. Hotels reached full occupancy, with prices exceeding even New Year’s rates—some luxury accommodations reportedly charged up to ₹1.6 lakh (about $1,920) for a two-night stay. To accommodate the influx of concertgoers, additional trains, flights, and metro services were mobilized.

The economic benefits extended beyond these sectors. The report identified a considerable “multiplier effect,” revealing that for every ₹100 spent on a ticket, an additional ₹585 was spent on ancillary services such as hotel stays, travel, food, local shopping, and concert-related merchandise. Restaurants, cafes, and taxi services reported unprecedented levels of business. Attendees, on average, spent ₹12,401 on accommodation, ₹10,792 on interstate travel, ₹4,159 on fashion and accessories, ₹1,983 on food outside the venue, and ₹1,260 on local transport. Fashion platforms like Myntra and AJIO reported a 3X spike in concert-themed merchandise sales, indicating the growing intersection of music, commerce, and lifestyle.

Furthermore, the event generated approximately 15,000 temporary jobs for event personnel, security, hotel staff, F&B workers, and volunteers—many of whom were local residents. Nearly 9,000 jobs were filled by workers from Ahmedabad itself, while over 400 student volunteers participated in operations and sustainability efforts.

The crowd was diverse and youthful: 79 percent of attendees were under 35, and 35 percent came from non-metro cities, indicating a shifting demographic in India’s cultural consumption. Notably, 66 percent of respondents expressed a desire to return to Ahmedabad, suggesting the event’s long-term tourism appeal. 88 percent of attendees shared their experience online, driving a combined 1.2 billion media impressions and 350 million social media reach.

Prime Minister Narendra Modi also acknowledged the concert’s success, calling it a “proof of how much scope live concerts have in India” and encouraging further investment in creative infrastructure.

The EY-Parthenon report also commended the efficient management of the large-scale event. It highlighted the 18-month planning process and the sophisticated logistics involved in transforming a cricket stadium into a concert venue while preserving the pitch. Coldplay’s Ahmedabad show not only became the band’s largest-ever performance—surpassing their Sydney concert—but also helped their tour break attendance records globally. From imported LED rigs to real-time crowd monitoring via over 400 CCTV systems, the production reflected international best practices in live event execution.

Notably, the concert elevated standards for event inclusivity and environmental responsibility. Special provisions were made for attendees with disabilities, including designated seating zones, sign language interpreters, vibration-enabled audio vests (Subpacs) for hearing-impaired fans, and a guided “touch tour” for visually impaired attendees. Additional measures included sensory rooms, child safety wristbands, and medical support near dedicated PwD areas. On the sustainability front, over 34,000 kilograms of waste—95 percent of the total—was diverted from landfills, and single-use plastics were eliminated through the use of rice husk hydration cups and refillable water stations.

Ashish Hemrajani, founder and CEO of BookMyShow, reflected on the significance of hosting the world’s biggest band at the world’s largest cricket stadium: “Decentralizing live entertainment is the future and as more global artists include India in their tours, we are committed to making it happen. The economic impact of this concert was massive, boosting revenue at city, state and national levels.”

What’s Next for India’s Concert Scene?

The EY-Parthenon report underscores that Ahmedabad’s success is not an isolated incident. India’s live entertainment industry, currently valued at over ₹12,000 crore, is experiencing rapid growth (approximately 19 percent annually). The report suggests several strategies for other Indian cities to capitalize on this trend. These include streamlining the process for obtaining event permits through a “single-window” system, fostering collaborations between government and private entities to develop and finance high-quality venues, improving existing venues and constructing new ones with good accessibility and transport links, and creating policies that encourage and simplify the process for major international artists to tour in India.

The economic impact of the Coldplay concerts echoes a global pattern seen in recent years. In 2023, Beyoncé’s Renaissance World Tour contributed over $4.5 billion to the U.S. economy, boosting hospitality, fashion, transport, and local retail in every city she performed in. A year later, Taylor Swift’s Eras Tour became a cultural and economic juggernaut, with an estimated $5 billion+ impact on the U.S. GDP. Hotels, airlines, local businesses, and even municipalities reported significant revenue surges during her tour stops, prompting the U.S. Federal Reserve to cite the tour’s economic influence in official communications.

Coldplay’s India tour is now part of that same global conversation. “Hosting one of the world’s biggest bands at the world’s largest cricket stadium, with over 111,000 fans each night, meant reimagining what’s possible in India,” said Anil Makhija, COO – Live Entertainment & Venues, BookMyShow. “This report serves as an archetype for other states to unlock the immense potential of the concert economy.”

Raghav Anand, Partner and Leader – Digital, Media and Convergence at EY-Parthenon, contextualized the broader economic impact. “The increasing consumer spends are fueling this transformative journey, he told Rolling Stone India. “This surge in consumer enthusiasm for world-class events reflects not just a rising disposable income, but an evolving cultural fabric that craves immersive experiences. The economic potential of this sector is tremendous, creating a ripple effect across allied industries and fostering opportunities for creators and local professionals alike.”

Ahmedabad proved that even a non-metro city can deliver a seamless, world-class concert experience. With a growing appetite among Indian audiences and increasing interest from global artists, the country has an unprecedented opportunity to transform live entertainment into a strategic economic pillar. If Coldplay’s Ahmedabad show was the prototype, the rest of India could just be the encore.