The Eras Tour: A “Swift” in the Economy
Sutton Fraley, Co-Arts/Entertainment Editor
In only a six month period, Taylor Swift has made a multi-billion dollar impact on the U.S. economy. From March 17th 2023 to August 9th 2023, Taylor Swift's Eras Tour has swept across the country. The Eras Tour is a compilation of all ten of her studio albums, but the concert specifically highlights her most recent four: Lover, folklore, evermore, and Midnights. As Swift traveled to all 146 of her destination Eras Tour concerts, she not only entertained fans, but drastically influenced each state's economy.
In total, the Eras Tour is projected to generate about $5 billion in consumer spending in the U.S., a higher gross domestic product than more than 50 countries combined, according to CBS News. Her fanbase, colloquially known as “Swifties,” take spending to the next level, averaging $1,300-$1,500 per weekend on restaurants, hotels, and other travel expenses. The rapid influx of spending boosts local businesses with hundreds of thousands of dollars per weekend. For comparison, this quantity is equivalent to 2-3 Super Bowls every weekend that Swift performs. In Chicago, a record was set for the most occupied hotels while Taylor performed for three consecutive sold out nights at Soldier Field. In Cincinnati, hotel revenue grossed $2.6 million and consumer spending totaled to $48 million. The tour's stop in Tampa generated $730,000 in taxes alone. Many financial analysts are coining the tour's impact as “Swiftonomics” or the “T Swift Lift” after the Covid-19 Pandemic’s recession.
Taylor Swift has truly re-defined what it means to be a performer. She not only reaches her fans, but also every state she comes in contact with. Swift continues to raise revenues for businesses and has given tremendous bonuses to her tour staff, totaling over $55 million. Sums of up to $100,000 were given individually to over 50 bus drivers, along with handwritten notes. Her generosity and overall effect has had more of an impact than you might think on the entertainment industry and United States economy.
