Taylor Swift’s economic impact in Vancouver estimated at 157 million

(Vancouver) Taylor Swift is expected to generate an estimated $157 million in economic impact for Vancouver next week with the final three concert dates of the Eras tour, Destination Vancouver has estimated.

The tourism body said its forecast included 97 million in direct spending on items such as accommodation, food and transport.

The tour is estimated to bring more than 150,000 “Swifties” to BC Place Stadium over the course of three concerts Dec. 6-8, and has resulted in more than 82,000 room reservations in the region.

Calculations were done with BC Pavilion Corporation, which operates BC Place, and predict that 70% of direct spending would come from fans who do not reside in Vancouver.

This economic boost would also result in more than 27 million in total tax revenue for the three levels of government.

Jarrett Vaughan, an assistant professor at the University of British Columbia’s Sauder School of Business, said that while he wasn’t familiar with the calculations, the numbers seemed realistic. “Anytime we have significant movement in the city of Vancouver, whether it’s cruise ships or destination concerts like Taylor Swift, it’s definitely helpful for the economy,” he said in an interview Tuesday.

Mr Vaughan explained that signs of an economic boom can be seen in the way local businesses are responding, as they prepare to host various events and promotions linked to the event.

“This is absolutely unprecedented,” he added, noting that Vancouver has hosted other world-class events, such as the Olympics and the Stanley Cup Final.

“We see the impact is very real for business owners trying to ensure Taylor Swift fans are operating in a way that not only supports them, but gives them better opportunities to enjoy a “Taylor Swift experience” adjacent to the concert itself.”

Destination Vancouver noted that spectator events are planned across the city, including 13 themed lighting installations in the downtown area starting Friday, which will conclude a week later on the day of the first show.

“Volunteers from Destination Vancouver will be on hand to assist fans with directions and information during the concert weekend and to distribute “Vancouver” friendship bracelets,” the organization said in a statement. .

The Vancouver dates, which cap Taylor Swift’s two-year world tour, come after six sold-out shows in Toronto. They lasted two weeks and ended on Saturday.

Destination Toronto had estimated direct spending at $152 million, which was expected to rise to $282 million as money continued to flow.

The Eras tour has stopped on five continents and will have recorded nearly 150 performances by its end.

Mayor Ken Sim said in a news release about the economic impact that he was thrilled that Vancouver was chosen to host the final stop of Taylor Swift’s tour.

“This iconic event has not only captivated audiences around the world, it has resulted in a huge economic boost for every city it has visited, and Vancouver is no exception,” said Ms. .Sim.

“Vancouver prides itself on being a world-class city, and hosting an event of this scale only strengthens our position as a leading destination. »

Destination Vancouver said B.C.’s charities have also been “significantly strengthened over the past month with donations of tickets and prize packages” through the BC Place community benefits program. Tickets were auctioned or raffled to raise funds.