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The financial affect of getting popstar Taylor Swift carry out in a metropolis is near the enhance it could get from internet hosting a Tremendous Bowl, in accordance with a brand new report from the Financial institution of America Institute.
The financial institution’s assume tank printed a report Tuesday (Jan. 30) analyzing inside credit score and debit card information to display how a lot stadium occasions boosted spending at native companies. The report particularly in contrast the affect of two stops of Taylor Swift’s stadium tour in Pittsburgh and the 2023 Tremendous Bowl in Phoenix.
Taylor Swift’s Eras Tour turned the primary tour to gross over $1 billion. As well as, the continued 151-show tour—which averaged 54,000 attendees every present throughout its first American leg—is estimated to have generated $4.6 billion in consumer spending in the US.
Specializing in Pittsburgh, Financial institution of America discovered that spending at eating places and bars within the metropolis through the weekend of the exhibits jumped 13% year-over-year. On common, the live shows generated $77 in spending at eating places and $56 at bars per family. General, spending at brick-and-mortar enterprise within the metropolis rose about 3% resulting from Swift’s live shows.
By comparability, the 2023 Tremendous Bowl in Phoenix spurred a median of $96 in restaurant spending and $74 in bars per family through the equal interval the yr earlier than. That interprets to a rise of 25.6% year-over-year in restaurant and bar gross sales and a bounce of 13% in all in-person retail gross sales.
The report is one other instance of the ability Swift wields over the economic system. And it comes simply days earlier than Swift’s boyfriend, Kansas Metropolis Chiefs tight finish Travis Kelce, is ready to compete on the 2024 Tremendous Bowl on Sunday (Feb. 11) towards the San Francisco 49ers. A separate report discovered that the couple alone has generated $331.5 million in model worth for the Chiefs and the NFL.
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