This story previously ran in our September 2023 print issue.
Taylor Swift has a wildly impressive career and a cult-like following, so it is no surprise her Eras tour grossed billions of dollars. Swift is not only killing it on stage, but also smashing it in revenue — Swift performed 140 shows from March 17 to Nov. 23, each earning around $13 million.
After the COVID-19 pandemic, the U.S. found it- self in an economic recession, and the lack of events and activities available to the public caused industries like tourism and businesses like hotels to take a massive hit. Those industries doubled with the collapse of almost every other industry put America in a scary position.
The Federal Reserve Bank of Philadelphia stated that Swift’s tour helped stimulate travel and tourism in the region, making May the strongest month for hotel revenue in the city since the onset of the pandemic. Philly isn’t alone in this experience across the 12 federal reserves; Chicago’s Tourism and Conventions Bureau announced in June that the city set a record for occupied hotel rooms, thanks in part to Taylor Swift’s three nights of sold-out concerts. Chicago had over 44,000 rooms occupied each night of the concert, totaling over $39 million in revenue.
According to USA Today, Minneapolis broke all time records for number of hotel rooms occupied when Swift came to town. Cincinnati reported spending related to Taylor Swift reached $48 million, and Denver estimated $140 million in Swiftie-spending. Even in Las Vegas, Swift’s tour beat out gambling for the amount of revenue generated.
After the Eras tour allowed tourism to return to a pre-pandemic state, Ill. gov. J.B. Pritzker said, “Hotel revenue has made a return to $308 million, almost surpassing pre- pandemic levels.” However, not every Swiftie could get their hands on a ticket. Not only were tickets expensive, ranging at face value from $90-500 and secondhand they could go for as much as $7,000, but CBS reported people spent hundreds of dollars over their intended budget on merchandise, un- expected food trips, and other travel issues.
Swift also often spent more than one day in a city, giving the local businesses time to absorb some of the revenue as well. When businesses saw Swift coming around, they had time to make merchandise and specialty items pertaining to her fans. Places like museums were rushing to put together a Swift exhibit. Swift swooped in at the perfect time to collect some serious cash and create a lasting experience for Swifties everywhere.
