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OMG!! Taylor Swift’s economic momentum is still booming, spreading from the US to Europe
The Taylor Swift economy is still booming. This time, in Europe.
One of the economic stories of 2023 featured Americans spending more than usual in cities where Swift’s Eras Tour came to town.
And new data from the Bank of America Institute shows that trend hasn’t stopped. Even as Swift’s tour has moved overseas.
“We are seeing a bit of a Taylor Swift boost,” Bank of America Institute senior economist David Tinsley said during a media roundtable on Monday, as Americans travel to catch the pop star abroad.
Swift played four nights in Paris from May 9-12, and Bank of America’s data showed a spending increase of about 22% during the period from May 9-13.
Tinsley noted their spending data is largely from US citizens, meaning this increase comes from US consumers spending on Bank of America cards in Paris. “It does seem like Americans are traveling to catch perhaps their second or third viewing of the Eras Tour,” Tinsley said.
Taylor Swift performs onstage during night four of “Taylor Swift | The Eras Tour” at La Defense on May 12, 2024 in Paris, France. (Kevin Mazur/TAS24/Getty Images for TAS Rights Management ) (Kevin Mazur/TAS24 via Getty
spending increase by more than 13% at bars and restaurants while Swift was in town. Similar increases in spending were flagged by the Philadelphia Fed and Moody’s. Moody’s found that the average revenue per available room increased by more than 10% in Philadelphia and Newark when Swift’s tour came to the cities