What is the Eras tour:
What is the Eras tour? Well, according to Taylor Swift, the Eras “Its nostalgia is also a method of accepting the passage of time.” The people who are Taylor’s fans are called “Swifties.” At these tours, lots of Swifties buy beads to make friendship bracelets. Lots of Swifties come from out of state or country and they spend a lot of money; for Hotels, outfits, flights, and bead materials. Characterized by trickle-down and multiplier effects, the Eras Tour elevated the commercial activity and economy of the cities it visited, significantly boosting local businesses, hospitality industry, clothing sales, public transport revenues, and tourism. The outfits that fans put together are incredible. Sometimes they bejewel their own outfits, some people even sew their outfits by themselves. Also they make friendship bracelets to trade, which helped the bracelet industry a lot.
Taylor’s impact on the economy:
While being a highlight of thousands of peoples summers Taylor’s tour has done more than provide entertainment: it has helped the economy recover from the COVID-19 shutdown. The tour is likely to gross $1 billion dollars making it the largest concert ever. But how does this help the economy? Many people are splurging when it comes to the Eras tour, staying at hotels, eating out, and even purchasing airline tickets to see her perform. Around $48 million was spent related to her tour in just Cincinnati alone. An estimated $5 billion worldwide will be added to the economy from her tour. A QuestionPro survey estimates that people spend $1,300 on average, which for many was much higher than they anticipated. “Still, 71% said it was worth it, and 91% said they’d go again.” Overall this tour has not only been a once in a lifetime experience for thousands but has also helped to boost our economy, proving just how amazing Taylor Swift truly is.
Cites
https://www.wsj.com/articles/taylor-swift-taylornomics-concert-eras-tour-local-economy-9fa1d492
https://www.popmatters.com/the-era-of-taylor-swift-has-just-begun#:~:text=The%20Eras%20Tour%20may%20immortalize,in%20a%20three%2Dhour%20show.
https://www.cbsnews.com/news/taylor-swift-eras-tour-boosted-economy-tourism-federal-reserve-how-much-money-made/
https://www.vogue.com/slideshow/taylor-swift-eras-tour-best-fashion-moments
