Highly recognized in the cultural community, American singer Taylor Swift also creates major economic benefits with her tour Eras. Economists fear an increase in inflation because of his so-called “excessive” popularity.
• Read also: The genius behind Taylor Swift’s success
• Read also: Taylor Swift fans cause an earthquake
• Read also: Lana Del Rey thinks she knows the key to Taylor Swift’s success
To mark this phenomenon, the Investopedia site invented the word “Swiftonomics”, which means “an economic influence of Taylor Swift and its impact on different sectors”. The artist’s tour would notably affect the areas of hotels, tourism and restaurants.
This is also the first tour in history to generate one billion US dollars in 2023. The entire tour will bring in even more revenue, since it will end at the end of the year.
AFP
This number only represents turnover. Those who attend the concert often have to pay for accommodation, transportation, dining and entertainment, in addition to the ticket.
The European Central Bank’s chief economist, Philip R. Lane, even brought up Taylor Swift during a panel. Several experts were discussing at this time the economic effects that Euro 2024 would produce in Germany and the Olympic Games in France during the summer.
Mr Lane was asked if he was concerned that these major events would intensify inflation in Europe’s services sector.
Surprised, he replied: “You’re not talking to me about Taylor Swift?”
The singer would therefore be a very influential person in the Old Continent. His tour would bring real fears about inflation.
The artist is currently in London, where she began her first concert on Friday. She will perform seven more times at Wembley Stadium in the coming days. She is touring Europe for the summer. She will be visiting the country in Toronto and Vancouver in November and December 2024.
