Taylor Swift Eras Tour worth £1bn to UK economy, says Barclays – BBC.com

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Taylor Swift Eras Tour worth £1bn to UK economy, says Barclays – BBC.com

Image source, Getty Images

  • Author, Faarea Masud
  • Role, BBC Business News

Taylor Swift’s Eras tour will boost UK spending by almost £1 billion this year, with more than a million fans preparing 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 “Swifttonomics,” 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.

New outfits and afterparties

Image source, Melissa Rubis

Melissa Ruby went to the Eras Tour show in Seattle in 2023 with her daughter and said it was “the most expensive concert ticket I’ve ever bought,” with the ticket, outfits and goods costing $4,000.

“Never in my life have I seen my daughter happier,” she said, adding that she was doing it again for Taylor Swift’s Vancouver show in December, which cost her twice as much as the Seattle show.

The Barclays report combines hundreds of millions of customer transactions with consumer research into 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 benefits, including VIP packages and exclusive merchandise.

Travel costs will average £111 as many fans will be traveling to another 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 for accommodation.

Dining out, new outfits and Taylor-Swift-themed afterparties are also expected to contribute to an overall £997 million boost to the UK economy.

However, because anticipation was high for the event – Swift last toured the UK six years ago – many fans were unable to get tickets to the UK.

Instead, some may have traveled to other European cities like Paris to see it “perhaps due to availability of tickets, cheaper travel and accommodation costs, or simply to be able to combine the concert with a vacation or city break,” Barclays said.

Dr Peter Brooks, behavioral scientist at Barclays, said: “When it comes to cultural icons like Taylor Swift – as we saw with Elvis and Beatlemania in the 50s and 60s – supporters have such a strong connection with the artist and the rest of the community. the fandom that the desire to spend becomes even more powerful.

“To non-fans, £848 may seem like a huge amount to spend on a concert, but for Eras Tour ticket holders, every pound spent is an investment in the memories they will create.”

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