Business, Economics, and the Eras Tour
- REA INSIDER
- Oct 29, 2023
- 3 min read
BY FAIROOZ SHAINA ~ Published: October 29, 2023
Singer-songwriter Taylor Swift’s Eras Tour took the world by storm as one of the most dedicated tour efforts in musical history. With three-hour concerts, an impressive setlist, and a massive behind-the-scenes team, the artist set out to put on a real show for her fans – one of the largest fandoms in the world. Since the beginning of the US leg of the Eras Tour in March 2023, her popularity has only grown and continues to do so with the International Leg.
As remarked by numerous experts and analysts, due to the tour’s sheer size and high demand, it has had considerable impacts on diverse industries of all kinds. Let’s look at how this event has affected our economy and businesses around the world.
Credit: Emma McIntyre/Getty Images
Economics & The Eras Tour
The economy experienced a significant impact due to the influx of many fans coming from different parts of the world to attend the Eras Tour. The concert is expected to contribute almost $5 billion to consumer spending within the United States alone.
In North America, ticket sales have the potential to reach approximately $2.2 billion, making the concert one of the most successful tours ever. Los Angeles, being the host for six shows that marked the end of the first part of the tour, experienced 3,300 new employment opportunities, generating $20 million in sales and local sales tax. Additionally, the tour's overall economic impact amounted to $320 million, with an extra $9 million derived from hotel room taxes.
Business & The Eras Tour
The Eras Tour has made its appearance in the business world as well. Local companies, the hospitality sector, apparel sales, public transportation income, and tourism were all greatly boosted as a result.
Fans are going above and beyond spending between $1,300 to $1,500 on items like clothing, travel, food, and other merchandise, boosting local businesses by hundreds of millions of dollars in a single weekend. In fact, every $100 spent on the live performance resulted in an additional $300 in local expenditure items like hotels, food, and transportation.
In her song “You’re on Your Own Kid” from her most recent album Midnights, Swift makes a reference to friendship bracelets. The fans have made good use of this; tens of thousands of Swifties took the chance to wear and exchange beaded bracelets at every show, which caused an uptick in sales for local bead, bracelet, and arts businesses.
Conclusion
The Eras Tour has been a total game-changer for profit-related industries. It’s been an inspiration for many local and international businesses and boosted the hospitality sector to a great extent. Thus, proven to be more than just a series of concerts, the tour has been a significant and beneficial contributor to economic activity worldwide, highlighting the influence of the entertainment industry.
With the worldwide release of the Eras Tour film on October 13, 2023 and even more opportunities for industries to benefit, there’s no doubt that the inter-industrial impacts of this tour will be marked in history forever.
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Resources
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to Prep.” KQED, 28 July 2023,
Kopstein, Jeannie, and Mariah Espada. “Why Taylor Swift's Eras Tour Has Made So Much Money |
TIME.” Time, 23 August 2023,
McIntyre, Hugh. “Taylor Swift’s The Eras Tour Could Generate $4.6 Billion For Local Economies.”
Forbes, 9 March 2019,
O'Kane, Caitlin. “The Federal Reserve says Taylor Swift's Eras Tour boosted the economy. One
market research firm estimates she could add $5 billion.” CBS News, 18 July 2023,
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