Taylor Swift’s $2 Billion ‘Eras Tour’ Broke Records and Boosted Economies Worldwide | Global News Avenue

After 21 months and 149 shows across five continents, Taylor Swift’s “Eras Tour” officially ends Sunday in Vancouver, British Columbia, adding to the culture that has broken records and boosted the global economy. The phenomenon comes to an end.

The Eras tour, which begins in March 2023, has generated more than $2 billion in revenue, according to one company. new york times The report cited confirmation from Swift Productions. that’s more than twice ticket sales The next highest-grossing tour is Coldplay’s 2.5-year ongoing Music of the Spheres World Tour.

In December, the Eras Tour became the first to gross $1 billion worldwide, eclipsing Elton John’s five-year farewell tour of approximately $940 million, according to industry publications poll star.

Despite being the largest tour ever, the Eras Tour could break records even further if resale prices are factored into the equation. total sales. The average ticket price is $204, fastThe production company told era. However, on the secondary market, tickets to the Vancouver final are resold for an average of more than $2,900, according to ticketing company Victory Live.

Swift’s concert movie grosses $261 million

The commercial impact of the tour extended far beyond the confines of the stadium. Swift’s October 2023 Eras Tour concert film grossed nearly $100 million in its opening weekend and totaled more than $261 million, according to Box Office Mojo.

The two-year tour also injected a shot of adrenaline into the local economy, a phenomenon sometimes called fast economics. One study estimated direct spending on the Eras Tour’s U.S. leg last year was about $5 billion. It’s estimated that “Swifties” spent an average of $1,300 on the experience, including tickets, travelaccommodation and food.

“This expenditure is related to super bowlbut this time it occurred on 53 different nights at 20 different locations over a five-month period,” the authors of the U.S. Travel Association report wrote in September 2023. The trade group estimated the total economic impact, including chain The influx of tourists could cost the region more than $10 billion.

Swift even got a thumbs up in the Fed’s July 2023 report beige bookThe central bank’s Economic Pulse Survey said: “Despite the overall slowdown in the region’s tourism recovery, one source highlighted that May was Philadelphia’s strongest month for hotel revenue since the onset of the pandemic, in large part due to the large number of An influx of tourists as guests of Taylor Swift’s concert in the city.”

The impact is being felt around the world

This year, the impact was felt around the world as Swift took her overseas tour to Asia, Australia and Europe. Singaporean Gross Domestic Product (GDP) It grew by more than half a percentage point to 3% in the first quarter, thanks in part to Swift’s six concerts there. The city-state’s services GDP, which includes hospitality and tourism services, grew by 4.3%, more than double the previous quarter’s pace.

Swift’s tour dates in European cities this summer coincide with a 39% year-over-year increase in spending in those cities, according to a Bank of America analysis of card data.

Over the past two years, Eras tours have made Taylor Swift almost unavoidable—she’s made headlines and attracted endless social media attention to her professional and personal life. it’s also make her a billionaire He is one of the few artists to have earned a ten-figure fortune from his music and acting alone.