‘Ye-conomics’ in China: Concert boosts Hainan

Chinese netizens have a new obsession: tracking the every move of Ye, formerly known as Kanye West, during his visit to China. The rapper recently made a rare appearance in Haikou, Hainan Province, where he hosted the “Vultures Listening Experience World Tour Listening Party,” generating 373 million RMB ($52.9 million) in tourism revenue. From breakfast at his hotel to grocery shopping, everything Ye did in Haiko has gone viral. A photo posted by Xiaohongshu user @b2fil showing Ye’s bodyguard ordering McDonald’s in Haikou racked up 430,000 likes and nearly 10,000 comments on the platform. Fans even photoshopped Ye into a popular local coconut water ad and posted it on social media. “You can literally follow Ye’s day in real time,” commented Xiaohongshu user Yuxixi (@鱼西西) under a photo of the star eating breakfast. Netizens joked that Ye only stayed one year in China before, but left a lifetime of affection, as old photos from Ye’s childhood in Nanjing resurfaced and went viral. Even as Ye moves on to Tokyo, social media continues to track him, from his layover in Hong Kong to shopping in Ginza. A WeChat conversation suggesting Ye will stay in China long-term is also making the rounds, with Xiaohongshu users joking, “It must be true, he’s already bought a toothbrush at Miniso!” Economic boost Beyond the online buzz, Ye’s concert provided a major financial boost to Haikou. Originally scheduled for September 7, the concert was moved to September 15 to align with the Mid-Autumn Festival, drawing nearly 40,000 attendees. During the holiday, Haikou welcomed 426,700 tourists, with local spending reaching 748 million RMB ($106 million). Hotel occupancy surged to 83.42%, a 41.82% YoY increase on September 15, thanks to Ye. Tourist attractions in the city welcomed 73,900 visitors, and on resale platform Xianyu, some are now selling replicas of the hoodie Ye wore at the show, emblazoned with the Chinese characters for “Told You.” Concert hub? Inspired by Ye’s success, the Haikou government quickly promised a second show would be on the cards. Ye confirmed the news on Instagram on Thursday, announcing an additional show in the city on September 28, right before China’s Golden Week. As a strategic move, both shows are planned around Chinese national holidays to encourage fans to stay longer and spend more. Before Ye’s concert, Haikou had suffered economic losses of 26.3 billion RMB ($3.7 billion) due to Typhoon Yagi. Hainan’s duty-free sector has also struggled lately, hit by the depreciation of the yen and a rebound in outbound travel. Haikou Customs reported duty-free sales of 20.13 billion RMB ($2.9 billion) from January to July this year, a 30.4% drop YoY. Sanya’s hospitality sector has seen similar declines, with average hotel occupancy at 79.3% from mid-July to early August, a 22.1% YoY drop, according to Jiemian News. Hosting major concerts is part of Hainan’s strategy to offset the losses, and the government has introduced policies to encourage large-scale concerts. Recent concerts in Haikou by stars like Aaron Kwok, Angela Zhang, and Jay Chou have significantly boosted the local economy. Chou’s concert alone generated 976 million RMB ($138 million) according to official figures. Global ambitions Ye’s choice of Haikou over cities like Shanghai or Beijing highlights the island province’s ambitions to become a global tourist destination. Hosting international events in major cities often involves complicated visa processes and customs clearances, but Hainan’s visa-free policy for 59 countries streamlines this. Since May 2018, tourists from these countries have been able to enter Hainan without a visa, which helped attract 848 international visitors to Ye’s concert. Wang Ke, Director of Haikou’s Tourism Bureau, described Ye’s concert as more than just a musical event – it was an opportunity to showcase Haikou’s global aspirations. Wang said that the city’s goal is to attract more international performances and become a key destination for artists touring China. According to the Hainan Tourism Bureau, over 146,000 people entered Hainan visa-free in the first half of 2024, a 12-fold YoY increase. To further boost tourism, Hainan has held promotional events in Malaysia, Thailand, and Vietnam, and even opened a “Sunny Hainan” tourism store in Southeast Asia. Global star power from talents like Ye provide a roadmap for recovery and the opportunity to boost the region’s international appeal.

‘Ye-conomics’ in China: Concert boosts Hainan

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Published September 21, 2024

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‘Ye-conomics’ in China: Concert boosts Hainan