Jakarta. Amid Indonesia’s weakening purchasing power, the expensive ticket prices do not stop people from seeing their favorite bands perform live.

Countless Indonesians had a blast this weekend as two of America’s legendary rock bands made their stops at Southeast Asia’s largest economy. California-based Linkin Park performed live in front of Indonesian rockheads at Jakarta’s Gelora Bung Karno stadium on Sunday night. Green Day also tore up the Carnaval Ancol the night before. 

The tickets to these concerts were not cheap. Concertgoers had to pay between approximately Rp 1.3 million ($77) to almost Rp 4 million ($247) to watch Linkin Park. Green Day’s tickets fall within the range of between nearly Rp 1.6 million and Rp 2.7 million. For context, the minimum provincial wage in Jakarta stands at almost Rp 5.4 million.

The Central Statistics Agency (BPS) reported that Indonesia’s inflation rate was the lowest in over two decades, reaching 0.76 percent year-on-year in January. Think-tank Celios had previously said that these figures reflected Indonesia’s weakening spending power. Nailul Huda, the director for economic affairs at Celios, said over the weekend that entertainment-related spending was different from basic needs, thus causing concerts to remain unaffected by the decreased purchasing power.

“When it comes to concert music, it is not just about the prices. People are [watching concerts] for their own satisfaction, so that is why the demand for concerts remains high even though the tickets are expensive,” Nailul told the Jakarta Globe’s sister publication Beritasatu.com on Sunday.

Leisure-related spendings have a different consumption pattern, according to Nailul. 

“Concerts are not just your usual spending items. They are simply to make oneself happy and create personal experiences. That’s why prices don’t matter when someone is really into a band. … Concerts are part of a lifestyle,” he said.

The analyst also attributed the expensive tickets to the artists and promoters' policies, saying that more competition can lead to cheaper prices for the concertgoers. 

“The more promoters that we have, the higher the chance of international artists performing here in Indonesia. More promoters and venues can spur greater competition, thus cutting the operational costs for concerts. This will eventually lead to more competitive ticket prices,” Nailul said.

Concerts also become a boon to Indonesia’s micro, small, and medium-sized enterprises (MSMEs) as they sell food or merchandise around the venue. Transportation and hotel industries also reap the benefits of such events. However, concerts only contribute a “small portion” to the national gross domestic product if compared to other sectors. International concerts of such scale are not something that happens every day. 

“If we can hold international concerts more often, at least once or twice a month, its impact on the economy will certainly become more significant. It will further revive the entertainment industry and have a long-term effect on the sector,” Nailul said.