Core Viewpoint - The rise of performance economy in Zhengzhou is transforming the travel habits of young people, linking cultural events with consumption in various sectors such as dining, accommodation, and entertainment [1][19][30] Group 1: Performance Economy Growth - Zhengzhou's performance economy is experiencing rapid growth, with a reported 96.6% increase in revenue from performing arts venues in the first five months of the year compared to the previous quarter [1] - The city has become a hub for major concerts, attracting large crowds, with over 40,000 attendees at a recent concert featuring popular artists [7][10] - The overall performance market in China is projected to generate a total revenue of 796.29 billion yuan in 2024, with a year-on-year growth of 7.61% [19] Group 2: Consumer Behavior and Trends - Young audiences, particularly those aged 18-34, dominate the performance market, accounting for over 70% of attendees [19] - The emotional value derived from live performances is driving a new trend in consumer behavior, where experiences are prioritized over material goods [19] - The integration of performances with local culture and tourism is enhancing the overall consumer experience, leading to increased spending in related sectors [21][30] Group 3: Economic Impact - The performance economy is referred to as "walking GDP," as attendees contribute to various sectors including dining, transportation, and accommodation, creating a domino effect on local consumption [21] - In 2024, Zhengzhou hosted 47 large concerts, attracting 970,000 attendees and generating nearly 1 billion yuan in ticket sales, which in turn stimulated over 6 billion yuan in overall consumption [25] - The local government is actively promoting the development of the performance economy as a key component of cultural and tourism consumption strategies [30][31] Group 4: Future Development Strategies - The government plans to enhance the performance industry by improving the approval process for large events and encouraging the hosting of major concerts [30] - There is a focus on creating high-quality content and experiences that resonate with audiences, leveraging unique cultural resources in Henan [32] - The development of supporting industries, such as stage production and artist management, is essential for sustaining the growth of the performance economy [32]