Current:Home > MarketsThe Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million -Financial Clarity Guides
The Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million
View
Date:2025-04-16 08:26:06
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! (8254)
Related
- What do we know about the mysterious drones reported flying over New Jersey?
- Biden's climate agenda is stalled in Congress. In Hawaii, one key part is going ahead
- Matthew Koma Reacts After Fan Mistakes Wife Hilary Duff for Hilary Swank
- Bonus Episode: Consider the Lobstermen
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Hydrogen may be a climate solution. There's debate over how clean it will truly be
- 'Jaws' vs 'The Meg': A definitive ranking of the best shark movies to celebrate Shark Week
- As a wildfire closes in, New Mexico residents prepare to flee
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Never Have I Ever: Find Out When the 4th and Final Season Premieres, Plus Get Your First Look
Ranking
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Lawsuit alleging oil companies misled public about climate change moves forward
- Fed nominee Sarah Bloom Raskin withdraws after fight over her climate change stance
- 20 Stylish Dresses That Will Match Any Graduation Robe Color
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- U.S. soldier believed to be in North Korean custody after unauthorized border crossing, officials say
- Oceans are changing color, likely due to climate change, researchers find
- How can we tap into the vast power of geothermal energy?
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Kourtney Kardashian Mistaken for Sister Khloe During Drunken Vegas Wedding to Travis Barker
Solar projects are on hold as U.S. investigates whether China is skirting trade rules
Remembering Every Detail of Jenna Johnson and Val Chmerkovskiy's Dance-Filled Wedding
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
The Masked Singer: Former Nickelodeon Icon and Friday Night Lights Alum Get Unmasked
How these neighbors use fire to revitalize their communities, and land
Max's Harry Potter TV Adaptation Will Be a Decade-Long Series With J.K. Rowling