South Korean boyband BTS, one of Time 100’s most influential people of 2019, is literally the country’s national treasure.
Aside from helping them break numerous records, the band’s devoted community (BTS’ Army fandom) has contributed greatly to Korea’s national economy, local researchers have revealed.
Reports from local media have indicated that the global popularity of the K-Pop group brings in over 5 trillion South Korean won ($4.6 billion) annually to the local economy.
Researchers have noted how Korean marts all over the world are expanding and generating significant revenue from the millions of international BTS fans. The amount includes the profits generated through fans buying BTS goods, Korean food, and other Korean products, SBS reports.
— i (@btsbtsbts___02) June 9, 2019
The group’s popularity has also reportedly been contributing to the influx of tourists in Korea in recent years. It is estimated that over 800,000 tourists come to Korea each year because of BTS. According to AllKPop, even restaurants that BTS used to frequent have become giant tourism spots.
Featured image via YouTube/ibighit