Taylor Swift, one of the most prominent and influential pop stars in the world, has not only made a significant impact on the music industry but has also contributed substantially to the US and world economy.
Taylor Swift’s Eras Tour significantly impacted the U.S. economy by generating billions of dollars in direct and indirect spending.
According to News Central, after 152 shows in 52 countries, the pop sensation—whose last show of “The Eras Tour” is scheduled for Sunday night at BC Place Stadium in Vancouver, British Columbia—became a titan of business. Eras earned an estimated $2.2 billion, making it the highest-grossing tour ever.
According to the US Travel Association, concertgoers in the US spent an average of $1,300 on travel, lodging, food, and merchandise, which is comparable to what football fans spend for the Super Bowl.
However, Swift’s tour saw 23 locations on 62 nights over about five months, but the Super Bowl is only one game with two weeks of marketing and advertising. A study conducted by the survey firm Question Pro estimated that Swifties spent $5 billion in the US. However, the US Travel Association claims that the figure only accounts for direct expenditure and may surpass $10 billion when indirect spending and purchases made by non-ticket holders outside of the venue are taken into consideration.
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Travel industry analysts called the “Taylor Swift Effect,” which included purchasing power, a “hospitality phenomenon.” The flood of tourists increased occupancy rates and traffic in downtown districts. Swift fans frequently stayed longer in cities that had several performances, which increased local income even more. According to the California Centre for Jobs & the Economy, “these events have had a major revitalising effect on local tourism industries and downtowns still struggling from the effects of the pandemic.”
Pittsburgh had the second-highest weekend occupancy in its history and the biggest weekend occupancy at hotels since the epidemic, where two concerts were held. During Swift’s tour, the average daily lodging rate increased to $309, and the city received $46 million in direct expenditure from visitors, 83% of whom were not Allegheny County residents.
According to the California Centre for Jobs & the Economy, Swift’s six-night series of concerts in Los Angeles helped boost local profits by $160 million and local employment by 3,300 workers. Before the “Eras” tour arrived in Los Angeles, hotel employment was roughly 15% lower than it was before the pandemic. $20 million in sales and municipal taxes and $9 million in hotel room taxes would generate an additional $320 million for Los Angeles County, according to the US Travel Association.
Eras was advantageous for ride-hailing businesses as well. In places where Swift was performing, Lyft claimed that trips increased by an average of 8.2%, with New Orleans seeing a 31% increase. According to the Downtown Development District of New Orleans, 80–90% of concertgoers were tourists. An estimated $200 million was the economic impact of the concerts, according to Greater New Orleans, Inc. This does not include the cost of dining out, lodging, and other travel-related expenses.
