The US Travel Association has said that Taylor Swift’s Eras Tour, which was just recently completed, has had a total economic impact likely exceeding $10 billion.
According to the Association, even though many attendees were local, every concert drew a large number of visitors who in addition to attending the event also spent multiple days in the destinations.
Taylor Swift held a total of 53 concerts in 20 different cities in the US, with the destinations experiencing a record high occupancy rate, leading to an economic boost to the host cities, VisaGuide.World reports.
As the US Travel Association explains, all those who attended one of the concert nights spent two times the price of the ticket on accommodation, food, and accommodation, having a huge impact on the economy.
“While the economic impact of every event depends on multiple factors, a commonly used multiplier is that $100 spent on live performances generates about $300 in other expenses including spending on hotels, food and transportation,” the statement of the US Travel Association reads.
As for the average spending amount, Swift fans known as “Swifties”, have spent around $1,300 in local economies on travel, food, hotel stays, merchandise, and costumes, according to the Association.
“That amount of spending is on par with the Super Bowl, but this time it happened on 53 different nights in 20 different locations over the course of five months. Downtowns across the country have enjoyed an influx of visitors—and a spending boost thanks to Taylor Swift,” the US Travel Association added.
A study by Question Pro has found that Swifties have directly spent about $5 billion in different US destinations.
Moreover, the US Travel Association discloses that two concerts that were held in Pittsburgh generated about $46 million in direct spending, with around 83 per cent of those who attended the concert coming from outside Alleghany County.
The hotel occupancy in the above-mentioned destination was the highest in the post-pandemic period and the second-highest weekend occupancy on record.
Moreover, Los Angeles which hosted a total of six shows and marked the end of the first part of the tours benefited from a total economic impact of $320 million. During this period, around 3,300 jobs were created, $20 million were registered in sales and another $9 million in hotel rooms.
Apart from Swift fans, the US Travel Association stresses that Beyonce fans have also contributed to and boosted local economies. Other large-scale events have also helped the country’s economy, but not as much as the tour that has been recently completed.
