Taylor Swift’s tour boosts US economy, US central bank says

Result of ticket sales with The Eras tour reflected in the hotel chain, whose revenues are expected to reach R$ 1 billion

Singer Taylor Swift jumpstarted the US economy by selling tour tickets The ages. The impact is contained in a report prepared by the FED, the Federal Reserve System of the country’s central banks.

According to the budget, concert revenue in the state of Philadelphia is expected to reach R$1 billion in the hotel sector. The profit estimate of The Tour of the Ages considered the movement in the hotels of the region in three days of concerts, held in May, based on data from Booking.com. The document from the hosting services platform shows that hotel prices have more than tripled in some cities.

“Despite the slow recovery in tourism to the broader region, one highlight is that May was the strongest month for Philadelphia hotel revenues since the pandemic began, largely due to the influx of guests to concerts by Taylor Swift in town,” revealed the FED, in the Beige Book, which analyzes the economic landscape of different regions of the country.

For this weekend, when the artist will perform in Denver, in the state of Colorado, the amount collected should reach 140 million dollars, equivalent to R$ 670 million at current prices. The numbers come from the Common Sense Institute, an organization that monitors the economy.

Estimated earnings for the full United States (US) tour are estimated at US$4.6 billion, approximately R$22 billion. It is worth mentioning that the sale of goods intended for production costs is not included in the sum.

Historical brand for singer

Taylor Swift could become the first woman to make the list of top-earning touring artists of the past 20 years. In addition to drawing crowds with his tour of performances since March, the singer is closing in on achieving the title of the highest-grossing tour in history, according to board.

Data from forbes indicate that the most profitable tours in history are: Goodbye Yellow Brick Road tourby Elton John, with US$ 853 million, equal to R$ 4.3 billion; Split, by Ed Sheeran, which grossed US$776 million, the equivalent of R$3.9 billion; AND U2 360ºby the band U2, generating US$736 million, approximately R$3.7 billion.

To attend a concert by the pop singer it is necessary to spend around US$ 254, approximately R$ 1,200. So far, the 22 shows already held have brought in revenues of US$300 million – just over R$1 million, according to the magazine Polstar.

In November, Taylor Swift lands in Brazil for another concert tour between the cities of São Paulo and Rio de Janeiro.

Source: Terra

Earl

Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.