Sun, 19 May 2024
The Daily Ittefaq

Taylor Swift tour to boost UK spending by £1bn: report

Update : 15 May 2024, 12:14

Taylor Swift's Eras Tour will boost UK spending by almost £1bn this year, with more than a million fans gearing up to see the pop sensation perform live, new data suggests.

Spanning six continents, the tour will hit the UK for 15 dates in June and August, with fans expected to spend an average of £848 on tickets, travel, accommodation and outfits, according to Barclays.

The bank's report is the latest example of so-called "Swiftonomics" - highlighting the singer's economic influence.

When tickets for the Eras Tour went on sale last year, it crashed websites and led to sold-out hotels in host cities around the world.

Her concerts in the US city of Seattle generated seismic activity equivalent to a 2.3 magnitude earthquake.

The Shake It Off and Cruel Summer singer entered the Forbes rich list for the first time last month.

New outfits and afterparties 

Melissa Ruby went to the Seattle show of the Eras tour in 2023 with her daughter and said it was the "most expensive concert ticket I have ever purchased", with the ticket, outfits and merchandise costing $4,000.

"Never in my life have I seen my daughter happier", she said, adding that she was doing it all over again for Taylor Swift's Vancouver shows in December - costing her double the Seattle show.

The report from Barclays combines hundreds of millions of customer transactions with consumer research on spending trends around the popstar.

It said the average amount spent on an Eras Tour ticket was £206, with 14% of fans spending more than £400 on perks, including VIP packages and exclusive merchandise.

Travel costs will average £111 as many fans will be travelling to a different city for the event. Eras Tour performances will take place in Edinburgh, Liverpool, Cardiff and London.

Fans will also fork out an average of £121 on accommodation.

Eating out, new outfits and Taylor-Swift-themed afterparties are also set to contribute to an overall boost of £997m to the UK economy.

However, as anticipation has been high for the event - Swift last toured the UK six years ago - many fans missed out on UK tickets.

Instead, some may have gone to other European cities such as Paris to see her "possibly due to ticket availability, cheaper travel and accommodation costs, or simply so that they can combine the concert with a holiday or city break", Barclays said.

Dr Peter Brooks, chief behavioural scientist at Barclays, said: “When it comes to cultural icons like Taylor Swift – like we saw with 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 splash out on a concert, but for Eras Tour ticket-holders, every pound they spend is an investment in the memories they’ll create.” Source: BBC 

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