How Taylor Swift's concerts are driving economic growth in host cities

Taylor Swift's Eras Tour has been a boon for the economy, according to fresh research.

The pop sensation is currently in the UK leg of her international Eras Tour, which initially kicked off on March 17, 2023, in Glendale, Arizona, and is set to wrap up on December 8, 2024, in Vancouver, Canada.

New analysis by Lyft reveals that Taylor's tour stops have given a significant boost to local businesses, including hotels, stadium venues and restaurants, thanks to increased ride shares. Other sources report similar findings, estimating that the average Swiftie splashed out $1,300 per show on tickets, travel, outfits, and accommodation.

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The Federal Reserve of Philadelphia reported that May saw the highest hotel revenue since the COVID-19 pandemic, thanks to the Eras Tour shows in the city. A previous 2023 Lyft study found that 36% of Lyft-using Eras Tour concertgoers travelled from outside their hometown for the show, more than any other fan base.

In a recent January 2024 analysis, Lyft studied 20 US cities where Swift performed in 2023. The key takeaway? The number of total Lyft rides in a city rose by an average of 7.6% whenever an Eras Tour concert took place.

Nashville, the city with the highest increase, experienced a nearly 25% surge in rides during the weekend Swift performed. The pop star's Nashville roots could explain this significant rise compared to other cities in the study. The Bluebird Cafe, where the 'Cruel Summer' singer first performed at the age of 14, saw a whopping 355% increase in rides when Taylor was in town.

Lyft has dubbed this phenomenon "the Swift Effect", and while 7.6% might not seem like much compared to the Super Bowl's 52% increase in Phoenix last year, it's worth noting that half of the cities hosting Taylor Swift saw at least a 10% rise, and 70% experienced more than a 5% jump.

The biggest increase in ride activity was seen at the stadiums and entertainment venues where Taylor performed. Hotel drop-offs also rose by 27%, mass transit by 12%, restaurants by 10%, nightlife by 7%, and airports by 5%. However, destinations such as home addresses, offices and healthcare stops saw almost no increase in rides.

According to Lyft data, Cincinnati saw a significant 63% increase in hotel stays. The Cincinnati Enquirer reported that room rates at Days Inn and Suites skyrocketed from $72 to $1,024 per night during this period, leading Lyft to speculate that this surge in hotel stays may have contributed to the dramatic price hike. In Santa Clara, which saw a 57% increase, occupancy rates ranged from 98% to 100%.

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