Taylor Swift’s upcoming ‘Eras Tour’ is expected to provide a major boost to the UK economy when it hits the country this summer. According to a consumer spending report by Barclays, the tour is projected to generate nearly £1 billion from Swift’s UK fans, as each is expected to spend almost £850 by attending her shows, and this will significantly benefit the country’s experience economy. The report indicates that most of the expenditure will go on accommodation, tickets, transport, and merchandise, with one in five of the 1.1 million ticketholders expected to purchase new outfits specifically for the concerts.
During the career-spanning tour, which is due to commence next month, Swift will visit numerous cities throughout the UK and Ireland. She will be supported by Paramore and is set to play eight sold-out concerts in London’s Wembley Stadium. The spending by fans for one ‘Eras Tour’ gig is over 12 times the average £67 cost of a night out in the UK, according to the report titled ‘Swiftonomics’.
Swift’s impact on the UK economy extends beyond her live shows too. Recently, the Black Dog pub in south London reached “max capacity” after the singer mentioned it on her new album ‘The Tortured Poets Department’. Barclays predicts that the total £878 average spend per Swift fan will contribute nearly £1billion to the UK’s experience economy, and the tour is on course to become the most lucrative tour in music history.
As of November 2023, the ‘Eras Tour’ has already crossed the billion-dollar mark and had a significant impact on the US economy, and brought 0.2 percentage points of GDP to Singapore’s economy, approximately equivalent to $200 million. Last year, Swift officially became a billionaire, according to a report from Bloomberg that broke down her estimated net worth
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