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Posted by Waf_Niel Tuesday, December 18, 2018

BIGGER THAN OLYMPICS

The annual estimation of economic value produced by BTS is around 4 trilion won (USD 3.54 billion). BTS demonstrate their imperative role in South Korea’s economy, as the Hyundai Research Institute (HRI) emphasizes that the production inducement effect of BTS is equal to the combined sales of 26 companies (each with 160 billion won of annual sale).



Ever since BTS debut in 2013, 800 000 foreigners have been visiting South Korea annually to see BTS performances. That figure itself is 7.6% of the total 10.4 million tourist visiting South Korea last year.


It is expected for BTS to generate an economic effect of 56 trillion won over ten years after their debut, which exceeds the economic effect of 2018 PyeongChang winter olympics. It is the highest level of economic effect that can be expected in Hallyu history.


Source: Daum News and Yonhap

Image taken from Daum News

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    StCatMouse Tuesday, December 18, 2018 14
    Tuesday, December 18, 2018

    I'm not going to question the numbers but isn't that false equivalency since the Winter Olympics only happen once every four years for a short amount of time and it isn't always held in SK? I'm not hating or discounting what BTS has done, mad props to them and their contribution to SK's economy, but I think I'm missing something here.

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    1

    Waf_Niel Tuesday, December 18, 2018 1
    Tuesday, December 18, 2018
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    1

    StCatMouse Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    I'm not saying it's yours. You did cite your source. I just find the comparison strange.

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    0

    hexrealm Tuesday, December 18, 2018 11
    Tuesday, December 18, 2018

    The article is about who brings in more economic benefits at the end of the day. It is not comparing apple to apple how it is done. A major event would of course bring in greater value in a shorter time. The thing is and that is the scary part, BTS will continue to generate more economic benefits whilst that of the Winter Olympics is all but gone.

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    11 more replies

    9

    hitthemark Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    I'm sorry, but it's not possible that BTS brings in 800,000 foreigners a year since debut unless this is an average of over the years. BTS was very under the radar for a while, a couple years at least, and couldn't have brought in that many people when they didn't even have full-fledged fan meetings and concerts until mid-2014. I can believe 2017-2018 BTS bringing in nearly a million foreigners, but the same cannot be said for the time before their first show win.

    EDIT: multiple translations and articles of the research state that they brought in that many tourists last year, not annually.

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    3

    Jaerim Wednesday, December 19, 2018 1
    Wednesday, December 19, 2018

    jeez the amount of bts haters on this site is amazing yall are fast

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    2

    rania4 Wednesday, December 19, 2018 0
    Wednesday, December 19, 2018

    jealousy at its best. As if their fav group can get a daesang if they downvote bts articles. 🤣

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    2

    caribbeangal Tuesday, December 18, 2018 1
    Tuesday, December 18, 2018

    Not surprised...

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    2

    rania4 Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    Oh how we are not suprised. Last time BTS beat the planet earth 🌏 if u remember

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    -1

    MayaDidas (Banned) Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    Comment has been deleted

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    -5

    Rainbow_Pearls Tuesday, December 18, 2018 1
    Tuesday, December 18, 2018

    they truly deserve military exemption

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    -8

    krell Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    (Trolling) ... Yes, at least as much as (BigBang) TOP deserves a BONG for MARIJUANA smoking !!! ... ;)

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    -10

    Azure_Aurora Tuesday, December 18, 2018 2
    Tuesday, December 18, 2018

    BTS is bound to be mesmerized by their own astounding power.

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    -9

    Waf_Niel Tuesday, December 18, 2018 1
    Tuesday, December 18, 2018

    True indeed!


    4 trillion won is KRW 4,000,000,000,000.

    Am I correct?

    Sooo many zeros, I lost count!

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    -1

    krell Tuesday, December 18, 2018 0
    Tuesday, December 18, 2018

    So, "a BILLION USD" is the same as "a THOUSAND MILLION USD" ... 1000 = Thousand

    The TRILLION aspect, adds like '3 more ZEROs' onto the front of 'a BILLION USD' ...

    I will 'pass' on a discussion of "HYPER INFLATION" ; which strangely does NOT involve inflatable dolls ... ;)

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