[The concert tour that made Taylor Swift a billionaire wraps up this weekend, but it has already left a lasting impact on the global economy. The pop superstar emerged as a business titan after 152 concerts in 52 countries, with an estimated windfall of $2.2 billion, making “The Eras Tour” the highest-grossing tour of all time.
In the United States, concertgoers spent about as much as football fans spend for the Super Bowl, with fans spending an average of $1,300 on travel, hotels, food and merchandise. Swifties spent an estimated $5 billion in the United States, but this total only accounts for direct spending and does not include indirect spending. When factoring in non-ticket holders and spending outside of the venue, total spending could exceed $10 billion.
The “Taylor Swift Effect” was hailed as a “hospitality phenomenon,” with downtown areas experiencing higher traffic and occupancy rates due to the influx of visitors. Fans often extended their stays in cities that hosted multiple shows, further boosting local revenue.
Pittsburgh, for example, had its highest weekend occupancy at hotels post-pandemic and the second-highest weekend occupancy in its history, while Los Angeles saw a $160 million increase in local earnings and 3,300 new jobs created by the six-night concert run. Ride-hailing companies also saw a significant surge in demand, with Lyft reporting an average increase of 8.2% in cities hosting a Swift concert.
The economic impact of the tour was even more pronounced in cities where Swift performed multiple shows. New Orleans, for instance, saw a 200 million dollar economic impact and a 31% increase in ride-hailing use. The city’s Downtown Development District estimated that 80-90% of concertgoers were visitors, and Greater New Orleans, Inc. estimated that the concerts generated around 200 million dollars in local spending.
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