All good things must come to an end – even record breaking tours. Spanning 149 shows over 21 months, Taylor Swift’s Eras Tour wrapped up in Vancouver, British Columbia on December 8, 2024 and became the first ever concert tour to gross over USD$2 billion in ticket sales.
That’s “double the gross ticket sales of any other concert tour in history,” according to the New York Times.
But the Eras Tour wasn’t just a cultural moment – it was an economic force. Hotels were packed, restaurants saw crowds and tourism took off in every city the tour touched. One Minneapolis brewery even raked in double its normal revenue after hosting Eras-themed events, including karaoke, dance parties and trivia.
“This was bigger for us than when the Super Bowl came to town in 2018,” Emily Elmer, general manager of Inbound Brew Co. told The Washington Post.
As the friendship bracelets and glittery outfits fade into the background, the spotlight turns to where the money actually went.
While major entertainment companies and Swift’s own production team claimed the lion’s share of revenue, one question remains: did small businesses truly get an economic boost?
The Eras effect: Impact on the economy
Throughout the tour, much has been said about Taylor Swift’s effect on local economies. Destination Toronto, for instance, estimated that her six sold-out shows in Toronto would bring $282 million into the local economy in 2024, with $152 million coming from spending on hotels, dining and other services. To put this in context, the 2019 Raptors NBA Championship parade generated $239 million in direct economic activity in Toronto, according to a City of Toronto Economic Report, published in 2019.
Even for the shows held in 2023, The Washington Post reported that a survey by QuestionPro found concert attendees spent an average of USD$93 million per show total — not just on tickets, but on merchandise, travel, hotels, food and even carefully curated outfits. Compare this to major Canadian events, such as the Calgary Stampede or the Toronto International Film Festival (TIFF). According to a 2022 Calgary Stampede Economic Impact study, visitors spend an average of CDN$65 million per day, covering accommodation, dining, and entertainment expenses while attending Stampede festivities. And according to Destination Toronto, local restaurants and bars report a 20% to 30% increase in revenue from themed menus and events targetting tourists during TIFF celebrations.
For the US Eras Tour dates, it’s estimated that Swifties helpe to generate USD$5.7 billion in additional spending with many local businesses directly and positively impacted by this spending. For instance, one California-based bakery, Susie Cakes, sold USD$50,000 worth of Swift-themed cupcakes during the Eras Tour dates. They weren’t alone. According to the California Center for Jobs and the Economy, Swift’s shows had longer-term effects on the job market as a whole, including an estimated revenue increase capable of funding 3,300 new jobs in Los Angeles, CA.
The true cost of hosting the Eras’ tour
There’s no denying that major events like the Eras Tour bring significant benefits to local economies. With the amount of ticketholders that travelled to see a certain Swift show, you could even compare the tour to something more grand like the Olympics. However, the economic impact of big events like these are often overstated when weighed against the cost of hosting.
For example, Beijing’s 2008 Summer Olympics brought in USD$3.6 billion in revenue but cost over USD$40 billion. Tokyo’s 2020 Summer Games also generated USD$5.8 billion in revenue, falling short of the USD$13 billion it cost to host the event.
The Eras Tour, on the other hand, stands out. Unlike the Olympics, it didn’t demand expensive new infrastructure or massive public investment. Cities didn’t have to build new stadiums or upgrade transportation systems.
While some cities went all out with fanfare — putting up signage or temporarily renaming one street “Taylor Swift Way” in Toronto, Canada — these are small-scale efforts that didn’t burden taxpayers with long-term financial burdens.
This relatively low-cost setup allowed cities to enjoy the economic boost from tourism, hospitality and local spending without the lingering costs of hosting a global event. Taken together, the Eras Tour was an example of a cultural movement that helped some local economies globally while avoiding the financial burden that can often overshadow large events. Given that 10,168,008 fans attended the Eras Tour, according to Taylor Swift Touring, the singer’s production company, with an average ticket price of about USD$204, it appears that the Swift impact on the economy is was net-positive for everyone.
—with files from Romana King
This article ‘Bigger for us than the Super Bowl’: Economic impact of the Taylor Swift Eras Tour significantly improved the bottom line for many businesses. Was this really the people’s tour? originally appeared on Money.ca
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
