Connect with us

NFL

Taylor Swift is an economic phenomenon. And she’s about to hit Scotland – Alexandra Colalillo

Published

on

 

If there is anyone who currently holds significant power over the global economy, it’s Taylor Swift. Since she embarked on the Eras Tour at the beginning of March last year, it’s become the highest grossing concert on record, generating more than $1 billion to date.

 

It’s unsurprising that the derivative term ‘Swiftonomics’ has been coined due to the icon’s ability to create major ripple effects across local and large-scale economies, promoting surges in demand for supporting hotel, retail, and hospitality industries.

If we take a look at the US, the tour has already contributed an estimated $5 billion to America’s economy and up to almost $10 billion when factoring in indirect spending by consumers who didn’t necessarily attend concerts, but joined in on parallel Swift festivities. A report by Barclays has estimated the Eras Tour will provide the UK economy with a £997 million boost. Scotland will undoubtedly witness its share of these positive ripple effects on growth with three sold-out concerts taking place at Murrayfield Stadium next month.

Edinburgh City Council recently approved an increased capacity of 72,990, from 67,144, so we are talking about almost 219,000 people descending from the UK and abroad who will be splashing cash around Edinburgh and the wider area. So if you’re a small business owner, there’s a chance to get a cut of Swift’s action.

We are already witnessing a surge in demand across Scotland’s accommodation industry from the ‘Swift Effect’, with hotels in Edinburgh pricing rooms at double the rate on the night of performances. Some hotels are even charging an exorbitant £600 a night or more. Not only will trade soar at surrounding pubs, restaurants and cafes, transport is also expected to receive an economic boost, with ScotRail adding additional services and carriages to accommodate demand across the concert period.

It’s not just Edinburgh that will receive these economic benefits. The tour is creating a second-hand boost to the short-term accommodation sector in neighbouring places, with many budget-conscious fans opting to stay in parts of the Lothians and Fife to avoid paying high city prices. More than 70 per cent of hotels in Glasgow are also booked during concert dates.

If Swift concert-goers are still willing to spend hundreds of pounds to attend the Eras Tour – on tickets, hotels,

hotels in Glasgow are also booked during concert dates.

If Swift concert-goers are still willing to spend hundreds of pounds to attend the Eras Tour – on tickets, hotels, merchandise and travel costs – it demonstrates the strength of the entertainment industry despite the cost-of-living crisis. According to the Office for National Statistics, 60 per cent of adults are spending less on non-essentials, yet many people are still happy to invest in tickets, accommodation and transport.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

NFL2 hours ago

BREAKING:”Fast Meets Furious: Sha’Carri & LeBron’s Love Goes Public in Iconic Style!” Read more…

NFL9 hours ago

BREAKING: “Sha’Carri Richardson Shocks the World by Accepting $50 Million Offer From X-Rated Company for Controversial Video Deal Here’s are Some”Read more…

NFL20 hours ago

SHOCKING:”Footage of Jay Z and Diddy “taking turns” on Beyonce at a Diddy party in 2003 are allegedly being sold on the dark web. Videos and pictures are starting to pop up all over the Internet”. SEE VIDEOS & PICS VIA LINK…

NFL1 day ago

JUST IN:”Taylor Swift Confirms AMAs 2025 as Travis Kelce ATTENDS Timberlake’s Golf Invitational in Las Vegas” See more…

NFL1 day ago

Fox Breaking News: 7 minutes ago…Serena Williams ‘unconscious’ as husband beat Tennis Star to stupor…GRAPHIC IMAGES…

NFL1 day ago

BREAKING: “Sofia Vergara’s Home Turns Into Chaos – Quick-Thinking Medics Prevent Disaster!..Read More…

NFL1 day ago

OMG! I Can’t Believe This, Jennifer Aniston Kisses Usher Raymond and Shows Off Baby Bump To Confirm the Rumour” She Then Went Ahead To…Read More…

NFL2 days ago

OMG! Tennis star Coco Gauff stuns fans and the global sports world as she ties the knot with one of a pair of identical twins—sending the internet into a frenzy of excitement and celebration. READ MORE…

NFL2 days ago

BREAKING:”Oprah Winfrey Was Stabbed In the FACE By Jealous Boyfriend Over A Properity Which”…Read More…

NFL2 days ago

BREAKING:”Donald Trump launches scathing attack on Zelensky and warns wartime leader to back his peace deal and forfeit land to Putin or lose ALL of Ukraine”…Read more

NFL3 days ago

15 Minutes Ago: “Chaos in America as U.S. President Donald Trump Has Just Been Brutally Attacked and Shot during a public appearance in downtown Atlanta”. See full details:

NFL3 days ago

BREAKING: “It has Just Been Confirmed Beyonce is Diagnosed With A Terminal illness That has Left Her Broken, Jay-Z Is Pleading With”….Read More…

Copyright © 2024 USArite