Pop superstar Taylor Swift’s seven concerts have brought $300 million (US$195 million) to the Australian economy, surpassing the expected figure by $160 million, according to National Australia Bank (NAB).
Sydney was ablaze with Taylor fever last weekend as over 320,000 ticket holders spent $135 million in the city, including $33 million on accommodation, tourism, and hospitality.
Across just four days, spending in the city’s CBD was up 20 percent compared to the previous month.
“While Taylor declared Melbourne the love of her life after her three nights at the Melbourne Cricket Ground (MCG), Sydney certainly made her think twice over the weekend by taking Tay Tay fever to the next level,” she said.
After wrapping up her final Sydney concert for the Eras tour on Feb. 26, the singer’s presence led to a doubling of spending on general merchandise, while bars and pubs saw a 50 percent increase in revenue.
“From hotel rooms to heaving restaurants, merchandise stands to packed pubs, her four Sydney gigs created a buzz in the city not seen since before the pandemic,” Ms. Rynski said.
“There’s no doubt businesses and consumers have had a difficult last 12 months or so, but despite this, it’s clear people are continuing to carefully evaluate and prioritise their spending on the things or experiences they truly value,” she said.
Tickets for the sold-out shows ranged from $79.90 (US$52.40) for the cheapest seats to $380 (US$249) for dance-floor tickets, with top VIP packages priced at $1249 (US$820).
Despite the cost crunch, thousands of “Swifties” eagerly spent their hard-earned money at pop-up shops over the few days, with many waiting in long queues for hours.
KPMG director Ian Welch mentioned the true economic gain stems from international “Swifties,” approximately 10,500 of whom spent about $500 on the concert day.
In total, Swift’s Australian concerts attracted over 600,000 attendees, making The Eras Tour the first in history to gross over $1.53 billion, according to industry estimates.
With 96,000 fans attending each night at the MCG, Ms. Swift’s three shows set the highest attendance records of her career.
The shows are also among the MCG’s top three most attended concerts, with only Ed Sheeran’s two performances in March 2023 drawing larger crowds of 108,000 and 109,500.
The “Cruel Summer” singer personally pocketed around $5 million (US$3.3 million) from each show.