Latest News

Back to Latest News back

 

NAB data reveals Taylor Swift’s The Eras Tour delivered $300 million for city economies

NAB data reveals Taylor Swift’s The Eras Tour delivered $300 million for city economies
March 26, 2024

The Taylor Swift l The Eras Tour, held in February over four consecutive nights at Sydney’s Accor Stadium and three consecutive nights at Melbourne Cricket Ground helped generate more than $300 million for Sydney and Melbourne economy.

National Australia Bank (NAB) data reveals Taylor fever gripped Sydney-siders with an estimated $135 million boost in spending recorded at businesses in Sydney’s inner suburbs across a four-day period 23rd to 26th February.

An estimated $33 million was poured into the Harbour City’s accommodation, hospitality, and tourism sectors.

NAB merchant terminal data shows this is a 20% increase in spend when compared to the month prior, with an estimated $33 million poured into the city’s accommodation, hospitality, and tourism sectors.

The data provided by NAB, also reveals businesses around the Sydney CBD were the big winners:

  • General merchandise stores up 117%
  • Accommodation up 72%
  • Bars and pubs up 49%

More than 320,000 ticket holders, and thousands more “Taylor-gaters”, flocked to Sydney’s Olympic Park to witness the US megastar’s glittering stage show.

NAB Executive for Business Metro and Specialised, Julie Rynski said the superstar’s seven-night Australian extravaganza had enchanted the local economy, offering an incredible economic boost for Melbourne and Sydney’s economies.

Rynski shared “From hotel rooms to heaving restaurants, merchandise stands to packed pubs, her four Sydney gigs created a buzz in the city not seen since before the pandemic.

“The cultural and economic impact of her seven, sold out, Melbourne and Sydney shows will last long in the collective memory, while businesses across both capital cities can be very thankful for the ‘Taylor effect’, which has helped spark a late summer spending spree.

“There’s no doubt businesses and consumers have had a difficult last 12 months or so, but despite this, it’s clear people are continuing to carefully evaluate and prioritise their spending on the things or experiences they truly value.”

Image. Taylor Swift performing at Accor Stadium 2024. Credit: Dace Greselin

Related Articles

5th March 2024 - Singapore Prime Minister defends Taylor Swift concert deal

24th February 2024 - Taylor Swift’s Sydney concert impacted by storm event

22nd February 2024 - Sydney Olympic Park introduces new technology to deal with large crowds for Taylor Swift concerts

13th February 2024 - Ticketek hack sees ‘thousands’ of Australian Taylor Swift fans with fears over stolen tickets

4th January 2024 - Inspectors step in as scalpers mark up tickets for Taylor Swift Melbourne concerts by more than 400%

9th November 2023 - Ticketek set to release resale tickets for Taylor Swift’s Eras tour

7th September 2023 - Apparent error sees Accor hotel group offer tickets for Taylor Swift’s 2024 Sydney concerts

30th June 2023 - Half a billion bots competing with consumers for Taylor Swift tickets

29th June 2023 - Promoters announce new Taylor Swift dates as NSW Fair Trading steps in on ticket resales

27th June 2023 - Calls for enforcement of anti-scalping laws in wake of soaring resale prices for Taylor Swift concerts

24th June 2023 - Taylor Swift tour to boost the economy and physical activity?

14th December 2018 - Facial recognition software used to detect security risks at Taylor Swift Los Angeles concert


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

Click here to view our subscription options.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Active World

Since 2019, Active World's development team has been delivering a comprehensive single solution that caters to the diverse requirements of successfully operated and managed leisure centres. The…

read more

Aquatics / Billing / Fitness / Recreation / Technology

 
 
 

Ticketworx Pty Ltd

Ticketworx (formerly House of Tickets) is Australia and New Zealand’s foremost ticket specialist servicing some 2,700 clients and producing in excess of 30 million per tickets per annum.…

read more

Entertainment / Events / Technology / Ticketing / Venues

 
 

ICP

ICP is an Australian-based company focused on indoor climbing. ICP will manage your project from initial design to completion and beyond, whether you're building an international-level climbing…

read more

Attractions / Fitness / Recreation

 
 

Digonex

Digonex is a leading provider of customised dynamic pricing solutions to clients in arts and entertainment, sport, attractions, cultural institutions and retail sectors. Digonex’s technology is…

read more

Attractions / Entertainment / Sport / Technology / Ticketing

 
 

HRMWEB

At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…

read more

Finance / Fitness / Technology

 
 

Sportybots

We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…

read more

Fitness / Play / Recreation / Sport / Wellness

 
 

Humanforce

Humanforce is a global provider of workforce management solutions for companies who need flexibility to manage complex workforces. Companies use Humanforce to manage everything from time and…

read more

Hospitality / Retail / Technology / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business