The iconic Taylor Swift is preparing to wrap up her incredibly successful tour, “The Eras Tour,” this weekend, marking the end of a chapter in her career. However, the impact of this tour has reached far beyond the stage, with significant effects on the global economy.

Having performed an impressive 152 shows in 51 locations, Taylor Swift has solidified her status as a corporate giant in the music industry. “The Eras Tour” has generated an astounding $2.2 billion in revenue, making it the highest-grossing tour in history.

The US Travel Association has reported that concert attendees have been spending an average of $1,300 on travel, accommodations, meals, and merchandise, a figure similar to that of Super Bowl enthusiasts. The scale of Swift’s tour, spanning five months and 23 cities over 62 nights, has had a massive economic impact on the areas she has visited.

Research firm Question Pro estimates that fans of Taylor Swift, affectionately known as “Swifties,” have collectively spent around $5 billion in the United States alone. When factoring in indirect expenditures and purchases made by non-ticket holders, the total economic impact could be as high as $10 billion.

The phenomenon of “Swiftnomics” has played a significant role in reviving post-pandemic economies in various cities. Industry experts have dubbed this the “Taylor Swift Effect,” highlighting the positive impact her tour has had on the hospitality sector.

In cities where Taylor Swift has performed, there has been a noticeable increase in downtown traffic and hotel occupancy rates, a boon for local businesses. The California Center for Jobs & the Economy has noted that these events have breathed new life into tourism industries and downtown areas that have been struggling in the aftermath of the pandemic.

For example, following Swift’s concerts in Pittsburgh, hotels experienced their second-highest weekend occupancy on record. The average daily lodging rate skyrocketed to $309, and the city saw $46 million in direct spending from non-local attendees, making a significant economic impact.

In Los Angeles, Swift’s six-night concert run created 3,300 jobs and generated $160 million in revenue according to the California Center for Jobs & the Economy. The influx of concertgoers helped boost hotel occupancy rates and local tax revenues, providing a much-needed boost to the city’s economy.

Ride-hailing startups such as Lyft also saw a substantial increase in business in cities where Swift concerts were held. Lyft reported an 8.2% increase in ride requests in these locations, with a notable 31% increase in New Orleans.

In New Orleans, the Downtown Development District estimated that the majority of concert attendees were tourists, contributing significantly to the local economy. Greater New Orleans, Inc. projected that the economic impact of the concerts could reach $200 million, excluding additional spending on dining, accommodations, and other tourism-related expenses.

Overall, Taylor Swift’s “The Eras Tour” has not only solidified her status as a global music icon but has also served as a catalyst for economic growth in the cities she has visited. The impact of Swiftnomics on the US economy has been significant, showcasing the power of music and entertainment to drive economic revitalization and growth.