Experts estimate that each show was attended by over 50,000 screaming fans and earned Taylor Swift more than $1 billion to date.  Tapping into her fans’ long pent-up demand for travel and live music, Taylor Swift will play more than 140 concerts across five continents. While the per-ticked price on Ticketmaster averaged $254, resale prices soared from thousands to tens of thousands of dollars. Additionally, “Swifties,” as Taylor Swift’s fans are coined, generated up to $4.6 billion in consumer spending as they also purchased lodging, food, and merchandise.  Swifties practiced an interesting “economic trend, termed ‘funflation,’ in which consumers are willing to spend money on fun experiences like concerts despite high inflation” (Mitra). Their massive revenue stream led to Taylor Swift being identified by Forbes as a billionaire in October 2023 and the second richest self-made woman in the U.S. music industry. Her billionaire status was based on her songs and performances, with her fortune including nearly $600 million amassed from royalties and touring, plus a music catalog worth an estimated $600 million and another $125 million in real estate.

But this blog isn’t about the success of the Eras tour or Taylor Swift’s income. The economic influence of superstar Taylor Swift has become known as “Swiftonomics,” with “the musician's Eras Tour being extremely beneficial for local economies, as well as the U.S. economy as a whole” (Mallika). Local businesses and tourism experienced a significant increase. Economic gains were evidenced in hotels, restaurants, taxis, Uber/Lyft rides, hotdog vendors, and other businesses. One study found that two of Taylor Swift’s performances in one month boosted Colorado’s GDP, with $140 million in consumer spending. Similarly, the Federal Reserve Bank of Philadelphia recognized that Swift’s tour helped stimulate travel and tourist in the region, making May 2024 the strongest month for hotel revenue since the onset of the Covid-19 pandemic. Ahead of Swift’s six concerts in Los Angeles, “the California Center for Jobs & the Economy estimated the tour would result in a $320 million increase to the Los Angeles County GDP. The Center also expected the tour would increase area employment in the California city by 3,300, and local earnings by $160 million” (Mitra). Overall, the Eras Tour could generate between $5-$10 billion for the U.S. economy for consumers who actually attended the concerts as well as those who joined in on spending around the events.

And it’s not just in the U.S. Swiftonomics continues to generate its positive economic influence as the Eras tour continues its international leg, boosting local economies throughout the world. “Swift's visit to Tokyo was expected to pull $228 million into the Japanese economy, with $162.7 million going directly to the city that hosted the musician” (Mitra).  In Mexico City, the Eras tour was expected to generate more than $59 million and “hotels in Edinburgh, Liverpool, and Cardiff were sold out in August 2023 for the 2024 U.K. leg of the tour” (Mitra). Canadian Prime Minister Justin Trudeau recognized the positive economic impact of an Eras concert tour date and contacted Taylor Swift via X to include a stop when none were previously scheduled, which she did.

Taylor Swift’s Eras Tour Economic Impact, U.S. and International

Location

Economic Impact

Colorado

$140 Million

Los Angeles

$320 Million

Tokyo

$228 Million

Mexico City

$59 Million

Source: Mallika Mitra, “Swiftonomics: The Economic Influence of Taylor Swift”

The Eras tour and its resulting “Swiftonomics” have proven extremely beneficial for local and international economies, as well as for the fans who attended the shows. As evidenced by the success of the tour, Taylor Swift has proven herself to be a talented performer and an equally talented businessperson with a keen recognition and understanding of her unprecedented economic impact.

Finally (in case you’re wondering), yes, I did attend an Eras show and spent too much on tickets...happily.