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The US Economy Got a Major Boost, Thanks to Taylor Swift

The US Economy Got a Major Boost, Thanks to Taylor Swift

Taylor’s Swift Eras tour is not only enchanting fans. It’s also enchanting the U.S. economy.

The Federal Reserve announced that Swift’s tour has given a significant boost to the economy. The Philadelphia Federal Reserve office noted the Era’s Tour contribution in the Beige Book, a comprehensive summary of the economic landscape in cities across the United States.

“Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city,” the report stated.

However, Philadelphia isn’t the only city reaping the economic benefits of Swift’s tour. Chicago also recognized Swift’s contributions to its economy. Choose Chicago, the city’s esteemed tourism and marketing organization, revealed that Swift’s tour in early June shattered all records, setting an unprecedented milestone in hotel occupancy.

During the three-night concert series, which ran from June 2 to June 4, 44,000 hotel rooms were occupied each night, resulting in a $39 million generated in hotel revenue for Chicago. Choose Chicago noted that other high-profile events took place that weekend, including the esteemed James Beard Awards and the ASCO Annual Meeting, but Swift’s tour by far brought in the most revenue.

Data shows that the average Swiftie is spending almost $1,300 to attend one night of the Era’s Tour, split between the cost of the ticket, the price of the hotel and travel expenses. So while Swifties’ wallets may be struggling, at least the U.S. economy is benefiting.

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