The Record Rise of UK Music Tourism and What It Means for Investors
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Music Tourism in the UK: Breaking Records and Powering Economic Growth
The UK has long been considered a global powerhouse for live music events, but recent years have seen music tourism reach unprecedented heights.
In 2024, the country welcomed a record-breaking 23.5 million music tourists, a 23% increase from the previous year, and saw spending hit an all-time high of £10 billion—a remarkable 26% jump from 2023.
This surge is not only revitalizing the UK’s tourism sector but also delivering a significant boost to the national and local economies.
Let’s take a look at this topic in more detail and, looking more closely at the cities seeing this boom, and think about how this could be relevant for property investments in the UK.
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The Rise of Music Tourism
Music tourism refers to people traveling specifically to attend concerts, festivals, and music-related events.
Festivals like Glastonbury continue to be magnets for both domestic and international visitors, but selected UK cities have also seen a rise in tourism following announcements to hold stadium tours for some huge music names.
A great example of this phenomenon is the 2024 Taylor Swift era’s tour, with Liverpool’s Anfield Stadium concerts having sold out all three dates within a matter of hours.
Among over 55,000 fans attending the concerts, there were reportedly attendees from as far as India, China and the Philippines.
Travel site Expedia stated that interest in Liverpool accommodation increased as much as 875% throughout 2024, which has been tied to Swift’s tour.
In a survey from Expedia, it was revealed that almost 70% of respondents claimed to be “more likely than ever” to travel to a concert outside their hometown, while 44% surveyed said they would travel to a concert as an excuse to visit a new place.
Here’s some key statistics on music tourism in the UK in 2024:
- 23.5 million music tourists attended live music events in the UK in 2024, up from 19.2 million in 2023.
- Of these, 21.9 million were UK-based and 1.6 million were international visitors—a 62% rise in overseas fans compared to the previous year.
- £10 billion was spent by music tourists in 2024, with £5.1 billion in direct spending (tickets, travel, accommodation, food) and £4.9 billion in indirect spending (supporting local suppliers and services).
- 72,000 full-time equivalent jobs were supported by music tourism in 2024, up 16% from 2023.
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What Does This Mean For Property Investment?
For those investing in serviced accommodation in the UK, this rise in UK tourism is welcome news. Those who own properties being used for short-term lets, periods of high demand mean better returns on their investment and fewer void periods.
In Liverpool during Taylor Swift’s tour, hotel prices were as high as £800 for one night, and those letting out short term accommodation took advantage of an average 337% surge in searches for Airbnb’s in areas the star was performing.
One of the main advantages of short-term let investments is the ability to generate higher rental income during peak periods such as the summer. With more people travelling to attend concerts and festivals across the UK, major cities are seeing more demand for accommodation at times outside of the typical peak months.
Liverpool has remained a popular city for music tourism in 2025 so far, with concerts from big names such as Bruce Springsteen, Lana Del Rey and Dua Lipa held, again, at Anfield Stadium. The LFC stadium has become a hotspot for music events in the city over recent years, with more big names sure to be announced over the coming years.
Those who own short-term accommodation in Liverpool could have potentially maximised their rental income during the dates of the above concerts, especially those with a high-quality apartment in a central location.
Perhaps the most anticipated music tour of the year, Oasis’s reunion tour takes place in the UK this month, with five of the tour dates held in Manchester.
This has led to a spike in Airbnb bookings, with a 7,500% average surge in searches in areas close to the venue at Manchester’s Heaton Park. Not only has Manchester seen increased demand for short-term lets during this period, but Liverpool also recorded a 1,500 increase in searches from those prepared to travel to a nearby city for the right accommodation.
Short-Term Lets - A Promising Venture for 2025 and Beyond?
All in all, it seems that the short-term accommodation sector is experiencing explosive growth in the UK, fuelled by a vibrant calendar of festivals and concerts, surging demand for unique and immersive travel experiences, and robust government support for the music industry.
If you’re considering investing in serviced accommodation in the UK, now is a great time to get started. With a busy summer expected for the sector in 2025 and further music tourism likely across key cities like Liverpool, demand is set to continue growing for quality short-term lets across the UK for many years to come.
Our latest launch, Victoria Point @ SoapWorks, gives investors the chance to purchase a premium apartment that can be used for short-term lettings. Investors can set their own rental income, giving complete flexibility on potential yields. If you want to hear more about this opportunity, get in touch today and one of our experienced property consultants can provide more information.
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