In Philadelphia, Pittsburgh, and other cities across the country, fans flocking to see Berks County native Taylor Swift are providing a jolt to local economies.
We’re especially proud in Pennsylvania to call the biggest pop star in the world, Taylor Swift, one of our own.
Here’s another reason to be proud that T-Swift is one of us: the Berks County native is pumping up local economies wherever her massively successful “Eras” tour plays. In fact, Swifites rolling into cities like Chicago (where they reportedly spent $39 million on hotels) and Cincinnati (where they dropped more than $2.6 million on downtown hotels, and $5.3 million on hotels in the surrounding area, according to NBC News) is having such a big impact on local economies that Swift is mentioned in the latest report from the Federal Reserve.
In the Fed’s most recent Beige Book, which provides an overview of the economic picture in cities across the country, Swift’s three-night stand at Philadelphia’s Lincoln Financial Field in May is credited for delivering the strongest month for hotel revenue in Philly since the pandemic began. (Ed. note: Based on the army of Swifties I saw swarming my South Philly neighborhood and other parts of town around that time, that stat absolutely tracks.)
Swift’s two-night engagement at Acrisure Stadium last month set attendance records and was expected to generate millions for Pittsburgh and the surrounding area. The hotel-occupancy rate in Allegheny County approached 100% around her shows and hotel reservation platforms crashed because of the surge in web traffic.
Swift played two sold-out shows in Denver last weekend. A report from the Common Sense Institute estimated the shows could generate $140 million for Colorado’s gross domestic product.
“The totality of Taylor Swift’s US tour could generate $4.6 billion in total consumer spending, larger than the GDP of 35 countries,” the Common Sense Institute said.
Swiftonomics is clearly a thing.