he plan, the Eras Tour will include 131 concerts in 17 US states and a total of 5 continents.
According to Markets Insider , Taylor Swift’s tour has caught the attention of US central bank officials due to its significant impact on local economies.
Eras Tour has attracted hundreds of thousands of Taylor Swift fans to many cities in the US. In particular, hotel revenue in Philadelphia (Pennsylvania) increased sharply thanks to the appearance of this female singer who won 12 Grammy awards.
“While the pace of recovery for the local tourism industry has slowed, one source noted that in May, hotel revenue in Philadelphia had the strongest increase since the pandemic broke out…
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..largely due to the number of visitors to Taylor Swift’s shows in the city,” the Fed said in its most recent Beige Book report.
Swift performed three nights at Lincoln Financial Field on May 12, 13 and 14. Then, in mid-June, she returned to Pennsylvania to perform in Pittsburgh.
According to Booking.com data, hotel room prices more than tripled ahead of the show in several cities, including Pittsburgh, Minneapolis and Kansas City.
Hotel occupancy rates in Allegheny County reached nearly 100% during Taylor Swift’s tour, and booking platforms crashed due to a spike in website traffic.
This weekend, the Eras Tour came to Denver (Colorado) and an estimate from the Common Sense Institute shows that the show will add $140 million to the state’s GDP .
Denver is said to host about 75,000 fans of singer Taylor Swift, and direct consumer spending could reach more than $200 million, according to the Common Sense Institute.
Emphasizing the Eras Tour’s impact on Denver’s economy, the Common Sense Institute said the shows will generate about $38 million in ticket sales
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“Taylor Swift’s entire tour in the US could help consumer spending increase by $4.6 billion, larger than the GDP of about 35 countries around the world,” the Common Sense Institute report reads.
Many people are worried that the world’s largest economy will fall into recession due to the impact of the Fed’s interest rate hike campaign.
So, if the economy holds up, America may have Taylor Swift and her loyal fans to thank, Markets Insider writes.
