The Singapore Tourism Board and the Ministry of Culture, Community and Youth said on Feb 20 that Taylor Swift’s sold-out concerts in Singapore in March had received support from the authorities in the form of a grant. This comes after Thai Prime Minister Srettha Thavisin's comments on Feb 16 that the Singapore Government offered subsidies in exchange for Swift agreeing not to perform elsewhere in South-east Asia.
Is paying for concert exclusivity a common practice? How does it benefit Singapore's economy and does it make financial sense to give a grant?
Dr Kevin Cheong, Managing Partner, Syntegrate LLP weighs in.
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