Taylor Swift fans reside out their “Wildest Dreams” this summer, not only scoring coveted Eras Tour tickets but getting a fresh stamp on their passports, too.
For some Swifties, the pop star’s newly-announced international dates come as each a second likelihood to secure tickets and a once-in-a-lifetime summer vacation abroad.
Even inside the US, desperate devotees have trekked across state lines to see their favorite artist perform the sensational three-hour show, creating an explosion in concert tourism.
Welcome to “the Taylor Swift Economy.”
“Every weekend, town that she visits releases the info around hotel occupancies and just the sum of money generated for every local economy — and it’s within the thousands and thousands,” Callie Cox, a financial analyst for investment company eToro, told The Post.
“Taylor Swift, should you take a step back, is selling out stadiums for multiple nights in a row, booking out hotels in every city that she goes to and commanding an obscene price for tickets,” she continued.
In Pittsburgh, an estimated 24,000 hotel rooms were booked at “premium” prices by Swifties making the Eras Tour pilgrimage this month for the record-breaking show, while tourists drummed up more traffic than usual for local businesses, from parking garages to restaurants.
Not to say, fans are shelling out top dollar for themed outfits to pose in for social media posts.
In actual fact, in comparison with that of a Steelers game, Pittsburgh Swift fans “generated 20% or 25% more in revenue” and record-breaking food sales for local hot spots.
Dan Fleetwood, the president of QuestionPro Research and Insights, said that the economic impact of Swift is larger than dozens of nations, because the Eras Tour is estimated to generate $5 billion alone.
“If Taylor Swift were an economy, she’d be larger than 50 countries; if she was an organization, her Net Promoter Rating would make her the fourth most admired brand, and her loyalty numbers mimic those of subjects to a royal crown,” he said in a statement.
“It’s all a testament to her deal with the fan experience.”
However the phenomenon shouldn’t be exclusive to the US or simply Swift — the “All Too Well” songstress is soon heading overseas, where Beyoncé has already caused a frenzy.
If Queen Bey’s Renaissance Tour stop in Sweden — where she was blamed for the rise of inflation within the country — is any indication, there may be the “potential” for Swift-flation should the concert tourism persist for the remainder of the Eras Tour, said Cox.
“When you consider people attending Beyoncé or Taylor Swift or another big artists, they’re not only going to a city to see the concert; they’re taking some type of transportation to town, they’re probably eating a meal there and probably staying there as well,” she said.
“So when you consider the entire experience, that these concertgoers are planning around a Beyoncé or Taylor Swift concert, , those forces can add up.”
South of the US border, where Swift is poised to tour next, tickets ring in at just a few hundred dollars or less — versus the 1000’s charged for US dates. This implies Americans clamoring for a deal may have to renew their passports and book flights, which regularly cost lower than the exorbitant prices at home.
On TikTok, the fan-lauded bargains have sparked debate over the economic impact Americans could have on local economies, should they resolve to travel for the “Shake It Off” crooner.
Cox said it is a “fair concern.”
“Those prices are in local currency for local people, considering their average salaries and their cost of living, it’s not for you,” TikToker @nandini said in a viral video, slamming one other user for criticizing lowered ticket costs overseas.
It’s also caused some “Bad Blood.”
Latest Zealand airfare doubled ahead of the Eras Tour ticket sales, and Australian Swifties warned US fans to “stay in your personal country,” fearing that Americans will snag all of the available tickets.
But Cox said that an influx in demand, even from tourists, is “a great thing for a neighborhood economy” despite concerns over the present global “affordability crisis.”
“There must be a balance here,” she admitted. “Local economies and economists are considering rather a lot about this and attempting to determine ways to preserve that have for local residents.”
One upside is that the uptick in spending is a surprising reality within the face of recession doomsayers — since many experts warn of an economic downturn amid hiked rates of interest.
Yet, Americans are still spending 1000’s on discretionary expenses — like a coveted ticket to the Eras Tour — prompting Cox to ponder just how bleak the economic outlook really is.
“The indisputable fact that consumers or Americans feel comfortable enough to spend this much money on concert tickets, really says something,” she said.
“Taylor Swift is incredible, nevertheless it also shows that US consumers have the budget to spend on discretionary items, and that’s a great thing should you’re frightened in regards to the economy.”
