By Nmesoma Okechukwu
- Bad Bunny’s Puerto Rican 30-day residency is expected to inject at least $200M into the economy
- Businesses like Airbnb’s and hotels have seen more than a 50% surge in their bookings
Puerto Rico has been on the receiving end with its citizens deserting the island due to its high cost of living. Joining in the battle to keep Puerto Ricans from losing their cultural identity is Bad Bunny, who has often addressed these themes in some of his songs, namely Un Verano Sin Ti and Debí Tirar Más Fotos. This time around, he’s taken a step further to revive interest in his country’s landscapes and cultures by hosting a 30-day residency on the island. Let’s just say that it is doing wonders for Puerto Rico’s economy, but by how much, you ask?
Why This Matters: Puerto Rico is a country that has endured decades of financial crisis and bankruptcy to become a top vacation spot amongst Caribbean destinations. Caribbean economies rely heavily on tourism and travel, which make up at least 40% of their GDP and Bad Bunny’s 30-date residency is the breath of fresh air that the country needs to truly bounce back after a troubling few years. He will be performing at José Miguel Agrelot Coliseum, the largest stadium on the island. Despite its impressive capacity of 19,500 people, 400,000 tickets have already been sold.
This translates to a $200 million boost to the economy where Airbnb searches in the area have surged to 140% and 70% increase in hotel bookings compared to the same period in 2024. This could play a significant role in boosting the country’s GDP which had registered a -6% decline during the Covid era but is slowly bouncing back with this concert.
What’s Next: The 2020 coronavirus pandemic may have hit the Caribbean where it hurt the most but Bad Bunny’s residency is proving to be a massive bounce back, and its effect on tourism is expected to carry on for many years to come.
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