Come again: How Taylor Swift’s week Down Under pumped $300m into Aussie economy
Pop megastar Taylor Swift’s run of concerts has been worth an estimated $300 million to the Australian economy, according to National Australia Bank.
People line up to purchase Taylor Swift The Eras Tour merchandise at the Melbourne Cricket Ground in Melbourne, Thursday, February 15, 2024. Last-minute tickets for all of Taylor Swift's Melbourne and Sydney shows will go on sale, with restricted viewing seats costing $65.90. (AAP Image/Con Chronis) NO ARCHIVING
The singer, who wrapped her final Sydney concert for the Eras tour on Monday, boosted spending in the city’s CBD by approximately 20 per cent over the four days of her performances, compared to the previous month.
It’s estimated that four-day lift was worth about $135 million, including $33 million spent on accommodation, tourism and hospitality, NAB said.
The “Taylor effect” sparked a late summer spending spree in both Sydney and Melbourne, according to NAB executive Julie Rynski.
“While Taylor declared Melbourne the love of her life after her three nights at the MCG, Sydney certainly made her think twice over the weekend by taking Tay Tay fever to the next level,” Ms Rynski said.
Spending on general merchandise more than doubled, while at bars and pubs the take lifted by half, the from NAB’s business customers shows.
Swift’s audience totalled more than 600,000 across all seven Australian concerts, with The Eras Tour becoming the first in history to gross more than $US1 billion (A$1.53 billion), according to industry estimates.
