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| Credit: Taylor Swift/Instagram |
Taylor Swift's global Eras Tour is set to give the UK economy a significant boost, with Barclays bank estimating it will bring in almost £1 billion (P72.6 billion).
The bank’s report on Wednesday highlighted the massive spending by fans eager to see the American pop star perform.
The study, called "Swiftonomics," projects that nearly 1.2 million fans will spend around £848 (P61,570) each on tickets, travel, accommodation, and merchandise during her 15 UK shows this summer.
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| Credit: Taylor Swift/Instagram |
This is 12 times more than the average amount spent on a typical night out in the UK, according to Barclays.
Peter Brooks, a behavioural scientist at Barclays, explained, "When it comes to cultural icons like Taylor Swift — like we saw with Elvis and Beatlemania in the 50s and 60s — supporters have such a strong connection to the artist that the desire to spend becomes even more powerful."
Swift's European tour follows a series of sold-out shows across North and South America and Asia.
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| Credit: Taylor Swift/Instagram |
In the UK, she will be performing in major cities including Cardiff, Edinburgh, Liverpool, and London.
The Eras Tour has already made history by becoming the first to sell over a billion dollars in tickets by the end of 2023.
It is expected to more than double that amount by the time the tour concludes later this year.
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