Taylor Swift's Eras Tour to boost UK economy by $1.3 billion: Barclays study
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Barclays bank estimates that Taylor Swift's worldwide Eras Tour will provide a significant boost to the UK economy, with fans expected to spend approximately £1 billion ($1.3 billion) to see the renowned US music star perform.
The study, titled "Swiftonomics," predicts that nearly 1.2 million fans will each spend an average of £848 on tickets, travel, accommodation, and merchandise during Swift's 15 summer dates in the UK.
According to Barclays, this spending is significantly higher than the average amount spent on a typical night out in the country, highlighting the strong connection fans have with cultural icons like Taylor Swift.
Peter Brooks, a behavioural scientist at Barclays, compared Swift's influence to that of past music legends like Elvis and the Beatles, noting the powerful desire fans have to spend in support of their favorite artists.
Swift's European tour leg, which began over a year ago, has seen sold-out performances across North and South America, as well as Asia. In the UK, Swift is scheduled to perform at various sporting arenas in cities including Cardiff, Edinburgh, Liverpool, and London.
The Eras Tour made history by becoming the first to surpass $1 billion in ticket sales by the end of 2023. With performances scheduled until the end of this year, the tour is expected to more than double this amount by its conclusion.