According to the research titled “Swiftonomics,” it is estimated that around 1.2 million fans are expected to spend approximately £848 each on tickets, transportation, lodging, and souvenirs to attend the performances of the popular singer and songwriter in the UK during a series of 15 summer shows.
Taylor Swift is currently on the European part of her tour that started over a year ago. According to a study by Barclays bank, her Eras Tour is expected to boost the UK economy by nearly £1 billion ($1.3 billion) as fans are predicted to spend around £848 each on tickets, travel, accommodation, and merchandise to attend her 15 summer dates in the country. The study, titled “Swiftonomics,” estimates that approximately 1.2 million fans will contribute to this economic boost.
According to Barclays, the amount spent on seeing a cultural icon like Taylor Swift in concert is 12 times more than the average night out in the country. Peter Brooks, a behavioural scientist at Barclays, explained that fans of artists like Swift have a strong connection to them, leading to a powerful desire to spend money on their concerts. Swift is currently touring in Europe after playing to sold-out crowds in North and South America, as well as Asia, over the past year.
Swift is set to take the stage at major sports arenas in Cardiff, Edinburgh, Liverpool, and London during her UK tour. The tour has already made history by being the first to surpass $1 billion in ticket sales by the end of 2023. With more shows lined up until the end of the year, it is expected to double that impressive figure.
