Taylor Swift's Eras Tour is expected to boost UK spending by nearly £1 billion this year, with over a million fans preparing to see the pop icon perform live, according to new data in a BBC report.
The tour, which spans six continents, will include 15 dates in the UK during June and August. Fans are anticipated to spend an average of £848 on tickets, travel, accommodation, and outfits, according to Barclays.
This phenomenon, dubbed "Swiftonomics," showcases the singer's significant economic impact. When tickets for the Eras Tour went on sale last year, websites crashed, and hotels in host cities worldwide sold out.
In the US city of Seattle, her concerts generated seismic activity comparable to a 2.3 magnitude earthquake. Additionally, Swift recently entered the Forbes rich list for the first time last month.
Barclays' report, which combines millions of customer transactions with consumer spending research, found that the average amount spent on an Eras Tour ticket is £206, with 14% of fans spending over £400 on perks like VIP packages and exclusive merchandise.
Travel costs will average £111, as many fans will travel to different cities for the events. The UK performances will be held in Edinburgh, Liverpool, Cardiff, and London. Fans will also spend an average of £121 on accommodation.
The report also notes that spending on dining out, new outfits, and Taylor Swift-themed afterparties will contribute to an overall boost of £997 million to the UK economy.
However, due to high anticipation—Swift last toured the UK six years ago—many fans missed out on UK tickets.
Some opted to see her in other European cities like Paris, possibly due to better ticket availability, lower travel and accommodation costs, or the opportunity to combine the concert with a holiday or city break.
Dr. Peter Brooks, chief behavioral scientist at Barclays, commented: “When it comes to cultural icons like Taylor Swift—similar to Elvis and Beatlemania in the 50s and 60s—supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful.
"For non-fans, £848 may seem like an enormous amount to spend on a concert, but for Eras Tour ticket-holders, every pound they spend is an investment in the memories they’ll create.”
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