Current:Home > ScamsTrendPulse|The Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million -WealthPro Academy
TrendPulse|The Swift impact: Eras Tour stop is boosting Los Angeles' GDP by estimated $320 million
EchoSense View
Date:2025-04-11 01:33:43
While getting tickets to Taylor Swift's Eras Tour has been a challenge for fans around the United States,TrendPulse entire cities have reaped the benefits of her record-breaking performances over the past several months.
The six days of sold out Eras Tour shows in Los Angeles will bring an estimated $320 million increase to the gross domestic product of the city, according to a new study by the California Center for Jobs and the Economy.
The tour will also increase area employment in Los Angeles by 3,300 and local earnings by $160 million, while bringing in millions of dollars in tax revenue for the city and the state, according to the report. It will generate an expected $17 million in state income tax, $20 million in state and local sales tax, and $9 million in transient occupancy tax.
The estimate includes direct, indirect, and induced impacts and covers only economic activity from the six venue dates. For reference, the 2021 GDP of the Los Angeles metro area was over $1.1 trillion, according to the Federal Reserve Bank of St. Louis.
Eras Tour generating estimated economic impact on par with entire countries' GDP
The Los Angeles leg of the tour is part of a larger phenomenon across the country of Swifties boosting local economies.
One estimate from research firm QuestionPro suggests the tour could generate an economic impact of up to $5 billion, which would be more than the GDP of dozens of counties, World Bank data shows.
When Swift arrives in each city, not only do fans spend money on tickets, but outfits, merchandise, food, drinks, and travel expenses such as transportation and hotels.
More:Swifties' friendship bracelet craze creates spikes in Michaels jewelry sales on Eras Tour
Era' Tour goes global before returning to US
Swift began her tour in March 2023 in Glendale, Arizona, snaking across the country through 20 cities across 27 states. The tour has already broken records, including the most tickets sold in a day by an artist, at 2.4 million tickets.
More:Visualizing Taylor Swift Eras Tour's epic 44-song set list and tracking its surprise songs
While Los Angeles is the last U.S. show for 2023, Taylor Swift announced a second American tour leg last week. She'll perform in Miami, New Orleans, Indianapolis and Toronto in the fall of 2024.
Before that, she'll head to Mexico later this month before taking a break and restarting in South America in November. Swift will spend most of 2024 in Japan, Australia, Singapore and Europe.
Contributing:Yannick Peterhans
veryGood! (2357)
Related
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Intellectuals vs. The Internet
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- A South Texas lawmaker’s 15
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Global Warming Set the Stage for Los Angeles Fires
Ranking
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- The company planning a successor to Concorde makes its first supersonic test
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Senate begins final push to expand Social Security benefits for millions of people
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Recommendation
Don't let hackers fool you with a 'scam
Nevada attorney general revives 2020 fake electors case
Louvre will undergo expansion and restoration project, Macron says
Trump's 'stop
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
A South Texas lawmaker’s 15
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion