Pop megastar Taylor Swift’s summer tour is predicted to give Britain’s flagging economy a near £1billion boost. Analysis by Barclays suggests Swifties will spend an average £848 to see their idol at one of the 15 UK dates on the Eras tour this year.
As well as gig tickets, fans are expected to shell out on everything from restaurants and hotels to merchandise and outfits. Barclays estimates that, altogether, this could amount to a £997m injection into the economy.
PM Rishi Sunak – a self-confessed Swiftie – will be looking for any sign of a boost from what has been dubbed Swiftonomics ahead of an expected general election in the autumn. Barclays estimated that, on top of the ticket, fans will spend an average £121 on accommodation, £111 on transport, plus £79 on merchandise. Almost a fifth of those surveyed plan to buy a new outfit, especially for the gig.
The Shake It Off singer is partway through a tour of 152 dates. When the UK dates were released in November, it broke the record for the most concert tickets sold by an artist in a day, at 2.4 million. It has led to tickets being offered for hugely inflated prices on resale sites.
By the time the 34-year-old wraps up her Eras Tour in December, ticket sales are projected to reach £1.1bn alone, making it the most profitable tour of all time. Her personal fortune is already thought to be £874m.
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Tom Corbett, head of group sponsorship for Barclays, said of the big sums being forked out: “Fans are increasingly going all-out on experiences that resonate on a personal level.” Dr Peter Brooks, chief behavioural scientist at Barclays, added: “Every pound they spend is an investment in memories they’ll create.”
Fan Beth Armstrong, 29, has spent £350 on the Wembley Stadium show on June 21. Beth, of Sonning Common, Oxon, who works in digital advertising, said: “Paying a little more for a once-in-a-lifetime experience was a no-brainer.”
Taylor Swift resale tickets are available from a number of online retailers right now, including viagogo and Vivid Seats. Sites such as Viagogo and Vivid Seats allow fans to buy resale tickets from other fans. However, it is important to note that many event promoters say tickets should not be resold after initial purchase and will not be valid for admittance to gigs.
Fans attending live events with tickets acquired through resale websites are advised to double-check the ticket terms and conditions at the point of sale - such as Ticketmaster or Live Nation - to ensure a smooth live event experience. Tickets could be voided if they were found to be bought second-hand. As a result, fans are buying at their own risk. With that said, Viagogo also commented: "viagogo is a regulated marketplace where fans have the guarantee."
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