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Welcome to the ‘Taylor Swift Economy’: Swifties spur boom in global concert tourism
a second chance to secure tickets and a once-in-a-lifetime summer vacation abroad.Even within the US, desperate devotees have trekked across state lines to see their favorite artist perform the sensational three-hour show, creating an explosion in concert tourism.Welcome to “The Taylor Swift Economy.”“Every weekend, the city that she visits releases the data around hotel occupancies and just the amount of money generated for each local economy — and it’s in the millions,” Callie Cox, a financial analyst for investment company eToro, told The Post. “Taylor Swift, if you take a step back, is selling out stadiums for multiple nights in a row, booking out hotels in every city that she goes to, and commanding an obscene price for tickets,” she continued.In Pittsburgh, an estimated 24,000 hotel rooms were booked at “premium” prices by Swifties making the Eras Tour pilgrimage this month for the record-breaking show, while tourists drummed up more traffic than usual for local businesses, from parking garages to restaurants.Not to mention, fans are shelling out top-dollar for themed outfits to humble brag on social media.In fact, compared to that of a Steelers game, Pittsburgh Swift fans “generated 20% or 25% more in revenue” and record-breaking food sales for local hotspots.Dan Fleetwood, the president of QuestionPro Research and Insights, said that the economic impact of Swift is larger than dozens of countries, as the Eras Tour is estimated to generate $5 billion alone.“If Taylor Swift were an economy, she’d be bigger than 50 countries; if she was a corporation, her Net Promoter Score would make her the fourth most admired brand, and her loyalty numbers mimic those of subjects to a royal crown,” he said in a statement.
