Federal Reserve says Taylor Swift’s tour boosted economy

Taylor Swift’s Eras Tour is boosting economies countrywide in cities like Philadelphia, Chicago and Cincinnati. Market researchers estimate it could add $5 billion to the global economy.

The Federal Reserve Bank of Philadelphia announced Swift’s concert saw an increase in travel and tourism in May.

Chicago’s tourism and convention bureau witnessed record hotel room bookings in June when the tour was in town, and Cincinnati experienced a similar boost in its economy.

Meanwhile
Till June end, the Eras Tour had grossed more than $300 million, according to live music industry trade publication Pollstar. It is named the biggest tour of 2023, and multiple concert trackers estimate it to earn a record-setting $1 billion in sales.

Forbes recently projected that Beyonce’s Renaissance World Tour could gross $2 billion globally.

It is Taylor Swift’s world
Recently the pop superstar became the first woman to have 12 No. 1 albums (surpassing Barbra Streisand) after her re-recorded Speak Now (Taylor’s Version) reached the top spot on the Billboard 200.