Current:Home > StocksThe Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million -Quantum Capital Pro
The Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million
View
Date:2025-04-14 00:56:42
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! (17899)
Related
- Sam Taylor
- Viral ad from 1996 predicts $16 burger and $65k 'basic car': How accurate is it?
- Activist says US congressman knocked cellphone from her hand as she asked about Israel-Hamas war
- Colorado Avalanche rally for overtime win over Dallas Stars in NHL playoff Game 1
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Indiana professors sue after GOP lawmakers pass law regulating faculty tenure
- Hamas says it approves of Egyptian-Qatari cease-fire proposal, but Israel says plan has significant gaps
- Final Baltimore bridge collapse victim recovered river, police confirm
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Trial begins for ex-University of Arizona grad student accused of fatally shooting professor in 2022
Ranking
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Semi-automatic gun ban nixed in Colorado’s Democratic-controlled statehouse after historic progress
- 95 men, women sue state of Illinois alleging 'severe' sexual abuse at youth centers
- Cardi B Unveils the Unbelievable Dress She Almost Wore to the 2024 Met Gala
- Grammy nominee Teddy Swims on love, growth and embracing change
- 15 House Democrats call on Biden to take border executive action
- Brittney Griner's book is raw recounting of fear, hopelessness while locked away in Russia
- Get A $188 Blazer For $74 & So Much At J. Crew Factory’s Sale, Where Everything Is Up To 60% Off
Recommendation
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Illinois Lottery announces $4.1 million Lotto winner, third-largest 2024 jackpot in state
Easily track your grocery list (and what's in your fridge) with these three apps
Dali crew will stay on board during controlled demolition to remove fallen bridge from ship’s deck
2025 'Doomsday Clock': This is how close we are to self
Knicks' Mitchell Robinson will likely miss rest of NBA playoffs due to ankle injury
Disney receives key approval to expand Southern California theme parks
New iPad Pro, Air unveiled: See prices, release dates, new features for Apple's latest devices