Taylor Swift’s Eraze Tour isn’t just making an impression on her loyal “Swifties.” The pop sensation and her highly anticipated tour are adding millions of dollars to the Los Angeles economy.
A new report from the California Center for Jobs and the Economy estimates that Tellermania is generating $160 million in local revenue for Los Angeles.
However, in total Swift’s six sold-out nights at Inglewood’s 70,240-capacity SoFi Stadium represented a $320 million increase in county gross domestic product through direct, indirect and induced effects.
The money that would come from the concerts would go through taxes to state and local governments, the Los Angeles tourism industry, local businesses and residents. As per the report, an estimated 3,300 new jobs were created.
Hospitality industry research firm OTA Insights reported that Los Angeles hotels experienced a surge in bookings around tour dates in the city.
A recent survey showed that concert-goers were spending approximately $1,300 per concert, generating a total economic impact of $5 billion by the end of the Eras tour.
“If Taylor Swift were an economy, it would be bigger than 50 countries,” said Dan Fleetwood, president of QuestionPro Research & Insights, which conducted the national survey.
Swift will perform at SoFi Stadium until Wednesday, August 9, before heading to Mexico City and Europe.
(tagstotranslate) los angeles