Taylor Swift’s Eras tour began in March 2023 and moved to Europe in May, and the host cities have begun to feel the economic impact of the tour. Swift’s success in creating and marketing music isn’t limited to herself, the Eras tour- the highest-grossing tour on record, has been credited with boosting the local economy of US cities that hosted the tour. The first show in the UK is scheduled for June 7, 2024, it is predicted to give a £997 million boost to the UK economy.
Taylor Swift’s Impact on the UK economy
Taylor Swift is set to perform 15 shows across 4 cities in the UK this summer, from June 7 to August 20, and the British bank estimates 1.2 million swifties to attend them in England, Scotland, and Wales. The tickets to the show were sold out within minutes of going on sale, and fans spent £206 on average, on a single ticket. As for 14% of the fans who purchase VIP tickets with premium seating and exclusive merchandise, the total exceeds £400.
And that isn’t all! Apart from the tickets, fans attending the concert will spend around £121 on accommodation, £111 on travel costs, and around £80 on clothes and styling for the concert. This implies that on average £848 is spent by one fan, to attend the show.
What is in Store for the Global Economy
The effect of the Eras tour is not limited to the UK. All US cities that hosted the tours saw a spike in local tourism. Apart from this in cities like Tokyo, the singer’s visit was expected to pull 167.7 million directly into the Japanese economy, and similar cases were seen with Mexico City.
Even countries that are not hosting the tour, like New Zealand, experienced a surge in airplane ticket sales as Swift announced that she was headed to Australia.
Taylor Swift- Pop star and business icon
Musical prowess alone cannot make one of the biggest pop stars of all time, it has to be combined with intelligent business strategies and marketing. Taylor Swift has proven herself as a brilliant businesswoman on countless occasions. Her decision to re-record and re-release her albums to retain control of her work, and adapting her style and public persona according to the changing trends have given her the upper hand over her contemporaries.
Spending £848 on one night might feel absurd to the average person, but for swifties, it is an investment in a night of precious memories. And it isn’t just the fans, Swift herself never fails to deliver. Whether it be performing in full downpour or using pyrotechnics, special effects, and multiple outfit changes Taylor makes sure to put everything into making the shows an unforgettable 3 hours for her fans.
