How Taylor Swift's Concerts Uplifted The US Economy The pop icon and artist known for ranking top charts across timelines has now turned into a wealth generator for the US Economy.
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The 33-year-old pop icon, Taylor Swift is undoubtedly a titan of the entertainment industry and nothing proves this more than her recent tour (The Eras Tour) tickets being the most sought-after possession. Her fans aka 'Swifties' have thronged arenas to see her perform live, hence creating an unparalleled demand. This high demand not only makes Swift and her team wealthier than before but also has the United States' economy reaping the benefits.
A recent report illustrates that the popularity of The Eras Tour has had a significant impact on the local economies of the cities she performed in. Her fans are not only attending her shows but also making a whole trip around her performance date, thus boosting the local economy. The tour has potentially generated a staggering 4.6 Billion USD in consumer spending alone.
Another survey revealed that the fans attending The Eras Tour shows aren't sparing any expense to make their experience truly memorable. Apart from purchasing the concert tickets, they have splurged on various aspects such as hotel accommodations, travel arrangements, clothing and meals in different cities she is performing at.
The city of Chicago, USA for instance was analyzed after Swift included the city in her tour and performed for her fans. The metro city experienced a surge in demand for hotel rooms that averaged at 44,383 rooms being booked on Friday and Saturday which were the two nights Swift performed in the city. The city's marketing organization reported that the hotel occupancy rates reached a staggering average of 96.8%, which now stands as an all-time high record.
This tour has undoubtedly brought immense financial gains for local economies but Swift herself has had a prosperous journey. The tour is expected to make her hundreds of millions of dollars. The artist takes home millions each night she's on tour with estimations ranging into eight digits for each show. Her success as a performer runs parallel with her astounding influence on the cities she visits. As the tour continues its successful run it establishes Swift's impact running beyond just her music.