By Layla Torimino
Taylor Swift has always been a popstar sensation, but this year’s announced Era’s Tour has racked up $2.2 billion in only North American ticket sales. Keep in mind that this is a world tour. Also, this total does not include merch, food, etc. This is causing a huge increase in not only the GDP in the US but also the GDP across other countries as she continues to venture on with more of her world tour. You may be curious about what GDP is. Let me explain it to you. GDP can be expanded to “Gross Domestic Product” this is the measure of monetary values of final goods and services produced in a country in a given period of time. A final good is a product that is ready for sale and cannot be used to make another good. For example, cookies.
You cannot make other things out of cookies they are prepared to simply be consumed. So basically, the GDP consists of all the final goods that you purchase as a consumer. Congrats! You’re part of our GDP.
But how does the Era’s Tour relate to many GDPs in different countries including ours?
The Eras Tour is predicted to create $5 billion in consumer spending in the US. “If Taylor Swift were an economy, she’d be bigger than 50 countries,” said Dan Fleetwood, President of QuestionPro Research, and Insights, in a story for GlobalNewsWire. How can we even get to a number this huge from a single tour? It is estimated that for every $100 spent on a concert that
$300 went to hotels, food, and transportation. But Taylor Swift fans are going above and beyond. For every $100 spent on a ticket, it is estimated that $1,300- $1,500 is spent on merchandise, costumes, dining, and travel. At one point, a ticket to the concert even went for $184,000.
“Based on their answers and average concert attendance, the company estimates that Swift’s fans spent about $93 million per show — yes, on tickets, but also on merchandise, travel, hotels, food, and outfits. Add all that up, and by the end of the U.S. tour, you’ve got a $5.7 billion boost to the country’s economy. That’s enough to give $440 to each person in Swift’s
home state of Pennsylvania. Or almost enough to send every American a $20 bill.” (Washington Post) Just in Los Angeles alone, Taylor Swift concerts created a $320 million boost in the county. She even gave $55 million in bonuses to her crew. You know what that means, they have more money, so they’ll spend more money. Taylor Swift will be a good amount of our GDP by the end of 2023. She already has created a $5.7 billion boost in the US’s economy. At the end of the day, thanks to Taylor Swift, our economy is increasing.
Works Cited
“The Economy (Taylor’s Version).” The Washington Post, WP Company, 13 Oct.
money-jobs/.
Kopstein, Jeannie, and Mariah Espada. “Why Taylor Swift’s Eras Tour Has Made so Much Money.” Time, Time, 24 Aug. 2023, time.com/6307420/taylor-swift- eras-tour-money-economy/.
Big Bucks Sought for Taylor Swift Concert Tickets | NJ Spotlight News, www.njspotlightnews.org/2023/05/tickets-offered-at-eye-popping-prices-for-
taylor-swift-concert/. Accessed 8 Nov. 2023