Current:Home > FinanceThe Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million -NextFrontier Finance
The Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million
View
Date:2025-04-15 22:30:56
While getting tickets to Taylor Swift's Eras Tour has been a challenge for fans around the United States, entire cities have reaped the benefits of her record-breaking performances over the past several months.
The six days of sold out Eras Tour shows in Los Angeles will bring an estimated $320 million increase to the gross domestic product of the city, according to a new study by the California Center for Jobs and the Economy.
The tour will also increase area employment in Los Angeles by 3,300 and local earnings by $160 million, while bringing in millions of dollars in tax revenue for the city and the state, according to the report. It will generate an expected $17 million in state income tax, $20 million in state and local sales tax, and $9 million in transient occupancy tax.
The estimate includes direct, indirect, and induced impacts and covers only economic activity from the six venue dates. For reference, the 2021 GDP of the Los Angeles metro area was over $1.1 trillion, according to the Federal Reserve Bank of St. Louis.
Eras Tour generating estimated economic impact on par with entire countries' GDP
The Los Angeles leg of the tour is part of a larger phenomenon across the country of Swifties boosting local economies.
One estimate from research firm QuestionPro suggests the tour could generate an economic impact of up to $5 billion, which would be more than the GDP of dozens of counties, World Bank data shows.
When Swift arrives in each city, not only do fans spend money on tickets, but outfits, merchandise, food, drinks, and travel expenses such as transportation and hotels.
More:Swifties' friendship bracelet craze creates spikes in Michaels jewelry sales on Eras Tour
Era' Tour goes global before returning to US
Swift began her tour in March 2023 in Glendale, Arizona, snaking across the country through 20 cities across 27 states. The tour has already broken records, including the most tickets sold in a day by an artist, at 2.4 million tickets.
More:Visualizing Taylor Swift Eras Tour's epic 44-song set list and tracking its surprise songs
While Los Angeles is the last U.S. show for 2023, Taylor Swift announced a second American tour leg last week. She'll perform in Miami, New Orleans, Indianapolis and Toronto in the fall of 2024.
Before that, she'll head to Mexico later this month before taking a break and restarting in South America in November. Swift will spend most of 2024 in Japan, Australia, Singapore and Europe.
Contributing:Yannick Peterhans
veryGood! (7363)
Related
- Travis Hunter, the 2
- Litter of dead puppies found on Pennsylvania golf course prompts criminal investigation
- Man shot and killed after grabbing for officer’s gun during struggle in suburban Denver, police say
- Boston Red Sox sign manager Alex Cora to three-year extension
- Trump's 'stop
- Connecticut woman found dead hours before she was to be sentenced for killing her husband
- What we know about Canada flying drones over Olympic soccer practices
- Dancers call off strike threat ahead of Olympic opening ceremony, but tensions remain high
- Senate begins final push to expand Social Security benefits for millions of people
- Amid tensions with China, some US states are purging Chinese companies from their investments
Ranking
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Every Marvel superhero movie, ranked (including new 'Deadpool & Wolverine')
- Halle Berry Goes Topless in Risqué Photo With Kittens for Catwoman's 20th Anniversary
- What we know about Canada flying drones over Olympic soccer practices
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- The best 3-row SUVs in 2024 for big families
- Idaho crash leaves 2 injured on final day of 'No Speed limit' driving event
- Matthew and Camila McConaughey go pantless again to promote tequila brand
Recommendation
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
'How dare you invite this criminal': DC crowds blast Netanyahu before address
How USA Basketball saved coach Jim Boylen after he lost brother, marriage, NBA job
Every Marvel superhero movie, ranked (including new 'Deadpool & Wolverine')
North Carolina justices rule for restaurants in COVID
Former University of Florida president will return on an interim basis after Ben Sasse’s resignation
Families of victims in Maine mass shooting say they want a broader investigation into killings
Jimmy Carter, 99, Is Still Alive Despite Death Hoax