The fandom of the South Korean boyband, Army, is very famous for being loyal and royal. Whatever they will do to support their idol. Seeing this extraordinary bigotry, it seems that BTS is the top 6 contributor to South Korea’s GDP.
Seven award-winning songwriters and performers include RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook. They are, nevertheless, one of the most popular boy bands in the world thanks to their ARMY. Here’s what we know about BTS’ earnings and how they affect South Korea’s economy.
BTS is One of The Most Popular Boy Bands in The World
They began with a modest label and have since grown to become one of the world’s most popular boy bands, including Billboard No. 1 songs on the Hot 100 Chart, Grammy nominations, and MTV Video Music Award victories.
They break records with their music videos, with each one receiving millions of views on YouTube. These artists also have a large and devoted fan base.
Each of the members earns millions of dollars for their Grammy-winning songs and stadium appearances. These idols also generate tourists and revenue for their country as a whole, thanks to their ARMY.
BTS Increases Growth of Turism in South Korea.
It’s no surprise that some overseas BTS fans fly to South Korea to see pop-up shops, live performances, and several music video locations.
According to Business Insider, South Korea had a large rise in travel in 2019 as a result of BTS.
“An estimated 800,000 tourists reportedly chose South Korea as their travel destination because of BTS,” the article reads. “Their popularity also boosted the appeal of South Korean products, such as clothes, cosmetics, and food. EBay in particular saw an increase in merchandise sales thanks to BTS. EBay Korea said in April 2019 that sales had risen by more than 50% since the previous April.”
BTS Brings in Plenty of Money for South Korea
They may just be a boy band from South Korea, but these boys bring in an impressive amount of money from their ARMY. According to an analysis of 2018 company revenues from Statista, BTS makes up .3% of South Korea’s GDP, raking in over $4.5 billion dollars that year.
That puts this K-pop group “in the same league” as companies like Samsung, KIA, and LG. For comparison, Korean Air, which earned revenues of $11.65 billion made up 0.7% percent of the GDP. Hyundai contributed about 5% that same year.
It’s, predominately, thanks to this contribution that some BTS members had their military conscription temporarily postponed. (The oldest BTS idol, Jin, was originally expected to take a break from the group after his birthday in 2020.)