By Lily Larson
On October 21, 2022, Taylor Swift announced her tenth studio album, Midnight, at the 2022 MTV Music Awards; shortly after, Taylor announced that she would be going on tour again, calling it “The Eras Tour.” This tour consisted of a three-and-a-half-hour set with 44 songs and 10 distinct acts that she would perform for 149 shows on a total of 5 continents. Taylor’s tour is the highest- grossing tour ever by any woman in the industry. When attending this event, people spent thousands of dollars on travel, clothes, tickets, hotels, etc. Thus, it generated 4.6 billion dollars in consumer spending and boosted the U.S. economy significantly. This contributed to the economic growth of the U.S. economy by the four main factors of economic growth: land, labor, capital, and entrepreneurship.
The Federal Reserve Bank in Philadelphia said that a “swift effect” would be put in their reports about how her concert created a sizable revenue boost for hotels, restaurants, shops, and everything in this city. This was just in Philadelphia but in cities across the country. Taylor Swift single-handedly changed this country’s economy for the better and changed the lives of the people who worked for her. In August, Taylor announced she would be giving $100,000 bonuses to the truckers on her tour who have been traveling with her all around the country. Still, with all the money that the Eras Tour produced in the U.S., it would be enough to give every American $20. One of the trucking company’s CEOs told CNN that the money was “life- changing” for many employees and helped them immensely. Taylor Swift's “The Eras Tour” boosted local economies and stimulated tourism, highlighting the economic power of the entertainment industry. The tour generated revenue, created jobs, and increased brand visibility for the host cities.
