The end of an era: How Taylor Swift boosted the US economy

  • CNN
  • December 8, 2024
CNN

 — 

The concert tour that made Taylor Swift a billionaire wraps up this weekend, but it has already left a lasting impact on the global economy.

The pop superstar, whose final performance of "The Eras Tour" takes place Sunday night at BC Place Stadium in Vancouver, British Columbia, emerged as a business titan after 152 concerts in 52 countries. Eras became the highest-grossing tour of all time with an estimated windfall of $2.2 billion.

In the United States, concertgoers spent about as much as football fans spend for the Super Bowl, an average $1,300 on travel, hotels, food and merchandise, according to the US Travel Association. But the Super Bowl is just one game and has two weeks of marketing and promotion, while Swift's tour hit 23 cities on 62 nights over the course of about five months.

Swifties spent an estimated $5 billion in the United States, according to an estimate by survey company Question Pro. But that total only takes into account direct spending, according to the US Travel Association, and could exceed $10 billion when factoring in indirect spending and when non-ticket holders make purchases outside of the venue.

‘Swiftnomics' revives post-pandemic economies

That spending power was a part of the "Taylor Swift Effect," which travel industry analysts deemed a "hospitality phenomenon."

Downtown areas experienced higher traffic and occupancy rates due to the influx of visitors. Swift fans often extended their stays in cities that hosted multiple shows, which further boosted local revenue.

"These events have had a major revitalizing effect on local tourism industries and downtowns still struggling from the effects of the pandemic," the California Center for Jobs & the Economy reported.

Taylor Swift waves to a crowd in New Orleans in October 2024.

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Swift dances across the stage while singing "August" in Atlanta in April 2023.

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Fans sing along in Las Vegas in March 2023.

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Swift performs "Lover" with her band, backup singers and dancers in Nashville, Tennessee, in May 2023.

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Swift performs in Glendale, Arizona, during the opening weekend of The Eras Tour in March 2023. Glendale was temporarily re-named Swift City in honor of the concert.

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Swift performs her last show in Los Angeles in August 2023. She was announcing the upcoming release of the album "1989 (Taylor's Version)."

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Glow bracelets light up Acrisure Stadium in Pittsburgh in June 2023.

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Swift performs "22" in Glendale in March 2023.

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Swift performs during the "Folklore" set in Chicago in June 2023.

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Fans in East Rutherford trade friendship bracelets in the parking lot of MetLife Stadium in May 2023.

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Swift sings "Down Bad" in Paris in May 2024. It was her first time performing "The Tortured Poets Department" section of the show.

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Florence Welch of Florence and The Machine joins Swift on stage to perform "Florida!!!" in London in August 2024.

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Fans wait in line to buy tour merchandise outside Raymond James Stadium in Tampa, Florida, in April 2023.

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Swift gives her hat to a fan in Mexico City in August 2023. Each night of the tour, Swift selects one lucky fan to receive a signed hat at the end of her song "22."

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Swift performs "Midnight Rain" in Edinburgh, Scotland, in June 2024.

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Thousands of fans gather on a hill outside a Swift concert in Munich, Germany, in July 2024.

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Swift performs during the "Evermore" section of the show in Sydney in February 2024.

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Fans react outside Lincoln Financial Field as Swift begins her set in Philadelphia in May 2023.

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Swift dances during the "Reputation" set in Atlanta in April 2023.

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Swift twirls during the combined "Folklore" and "Evermore" section of a show in Paris in May 2024.

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Fans show the Ticketmaster queue from the parking lot outside Swift's show in Philadelphia in May 2023. Ticketmaster apologized to Swift and her fans after a ticketing debacle in November made it difficult to buy tickets when they went on sale.

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Swift performs during the "Reputation" section of a show in Toronto in November 2024.

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Swift smiles at a crowd in Nashville as it gives her a standing ovation for "Champagne Problems" in May 2023.

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Swift opens a show in Lyon, France, in June 2024.

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Travis Kelce, right, joins Swift on stage for a surprise appearance in London in June 2024. Swift and the three-time Super Bowl champ were first romantically linked in September of last year.

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Swift opens the "Midnights" set with "Lavender Haze" during a show in Glendale in March 2023.

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Swifties hold up hand hearts as they gather in the streets of Vienna, Austria, in August 2024. Organizers canceled Swift's three concerts there after authorities said they foiled a terror attack.

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Swift sings "Look What You Made Me Do" while dancers in Glendale wear outfits from Swift's previous eras in March 2023.

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Swift sings "Who's Afraid of Little Old Me?" in Paris in May 2024.

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Swift performs with the band Haim in Santa Clara, California, in July 2023.

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Fans apply jewels on their way to Swift's show in Foxborough, Massachusetts, in May 2023.

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Swift performs during the "Reputation" set in Amsterdam, Netherlands, in July 2024.

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Swift lie on a stage in New Orleans while performing "The Smallest Man Who Ever Lived" in October 2024.

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Phoebe Bridgers joins Swift to perform "Nothing New" in Nashville in May 2023. Bridgers was also one of the opening acts.

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Swift performs the "Folklore" set in the rain in Nashville in May 2023. The show was delayed several hours due to storms in the area.

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Swift sings "I Can Do It With a Broken Heart" in Paris in May 2024.

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Swift watches the music video premiere of "I Can See You" in Kansas City, Missouri, in July 2023.

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Backup dancers join Swift during the "Reputation" set in Miami in October 2024.

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Fans cheer in East Rutherford in May 2023.

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Sabrina Carpenter joins Swift for the acoustic section of the show in Sydney in February 2024. They performed a mashup of "White Horse" and "Coney Island."

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Swift makes a heart with her hands while performing "Fearless" in Glendale in March 2023.

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Swift and dancers perform during the "Speak Now" set in Sydney in February 2024.

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Fans pose for photos before a show in Melbourne in February 2024.

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Swift performs "The 1" in Chicago in June 2023.

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Swift performs in the rain in Lyon, France, in June 2024.

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Swift and her backup dancers watch the premiere of the "Karma" music video while in East Rutherford in May 2023.

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Swift opens a show in Las Vegas in March 2023.

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Swift wraps her arms around her backup singers, known as The Starlights, during the "Fearless" set in Las Vegas in March 2023.

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Swift announces the release of "Speak Now (Taylor's Version)," a rerecording of her 2010 album, during her show in Nashville in May 2023.

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Swift performs in Houston in April 2023.

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Confetti falls as Swift closes a Nashville show with "Karma" in May 2023.

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"Swifties" arrive at a metro station temporarily renamed "Speak Now/Taylor's Station" in Inglewood, California, in August 2023.

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Swift performs the 10-minute version of "All Too Well" in Nashville in May 2023.

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Swift leaves the stage after the "Speak Now" set in Nashville in May 2023.

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Swift takes a bow with her backup singers and dancers at the end of a show in Melbourne in February 2024.

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In pictures: Taylor Swift's Eras Tour

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Pittsburgh, which hosted two concerts, had its highest weekend occupancy at hotels post-pandemic and the second-highest weekend occupancy in its history. Swift's tour raised the average daily cost of rooms to $309, and the city generated $46 million in direct spending from attendees, 83% of whom didn't live in Allegheny County.

The California Center for Jobs & the Economy estimated that Swift's six-night concert run in Los Angeles increased local employment by 3,300 workers and local earnings by $160 million. Before the "Eras" tour hit Los Angeles, hotel jobs were about 15% below their pre-pandemic highest. The US Travel Association estimated Los Angeles County would benefit from another $320 million, with $20 million in sales and local taxes and $9 million in hotel room taxes.

Eras was also a boon for ride-hailing companies. Lyft reported rides were up by an average of 8.2% in cities hosting a Swift concert and that New Orleans saw a 31% increase.

The New Orleans Downtown Development District estimated between 80-90% of concertgoers were visitors. Greater New Orleans, Inc. estimated the concerts' economic impact to be around $200 million. That doesn't account for spending at restaurants, hotels and other tourism expenses.