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Taylor Swift’s “Swift Economics” is Booming: How the Pop Star is Driving Tourism and Retail Sales

Pop diva Taylor Swift has given Philadelphia’s hotel industry a major boost, with her concert in May bringing the city the best hotel revenues since the pandemic began, a report from the Federal Reserve showed. a month.

Swift’s three shows at Philadelphia’s Lincoln Financial Field are sold out. “While the region’s overall tourism recovery has slowed, one source highlighted that May was Philadelphia’s strongest month for hotel revenues since the outbreak, largely due to Taylor S. There was an influx of guests for Swift’s concerts in the city.”

The popular American singer “Taylor Taylor” Taylor Swift’s global tour is very popular, the ticket price exceeds 1,000 US dollars is still in short supply, the ticketing system even collapsed at one point, “Swift economics” is spreading from the United States to the world.

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Federal Reserve releases Beige Book

Invited by the Prime Minister of Canada to hold a concert

American pop diva Taylor Swift’s “Journey of Time” tour, which will hold 131 concerts on five continents and 17 states in the United States, has managed to attract the attention of the Federal Reserve due to its significant impact on the local economy.

The Federal Reserve said in its latest Beige Book that Swift’s concert was a major boost to Philadelphia’s hotel industry, and her concert in May brought Philadelphia the best month for hotel revenue since the outbreak began.

In some cities, including Pittsburgh, Minneapolis and Kansas City, hotel prices have more than tripled, according to Booking.com. During Swift’s tour, hotel occupancy rates in Allegheny County, which includes Pittsburgh, were close to 100%, and hotel booking platforms briefly collapsed due to a surge in Internet traffic.

According to a Fox News report quoted by the World Wide Web, on July 6, Canadian Prime Minister Trudeau shouted to “Twitter” on Twitter, inviting her to hold a concert in Canada. It is worth mentioning that he also quoted part of the lyrics of Taylor Swift’s song “Anti-Hero” in this tweet.

“It’s me, hello. I know there are places in Canada that would welcome you to (sing), so don’t make us go through another ‘cruel summer’, we hope to see you soon.” Rudo wrote in a tweet.

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How much did the fans of “Taylor Mildew” fight for the merchandise?

Drive 160 kilometers in the morning

According to Jimu News citing British “Daily Mail” and other media reports on July 2, recently, American pop singer “Taylor” Taylor Swift held a concert in Cincinnati, and a large number of fans wanted to grab the surrounding products of the concert. , Waiting outside the venue early. In the crowd, there were two “disguised” fans, which caught the reporter’s attention.

It is understood that the two people drove from Louisville, Kentucky, 100 miles (about 160.9 kilometers) away, and arrived at the scene at about 2:45 in the morning. One of them said in an interview with reporters that she requested anonymity because she was on sick leave with the company.

In order not to be recognized, the fan also put a pink blanket on his head, “fully armed” to accept reporters. Although “coded manually”, she also thoughtfully put on a pair of sunglasses so that the reporter could know where her face was.

“Can you tell me what Taylor Swift means to you?” the reporter asked the fan, “She must mean a lot to you, because you’re here now and you called in sick .”

After the release of this interview video, it was quickly circulated on social media. Many netizens bluntly said that this was “the funniest thing they saw on the news.” “I only know that one day in the future, she (this fan) will wear the sweater she snatched to go to work, and then reveal her experience of skipping work.” A netizen commented.

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“If Swift was an economy

more than 50 countries”

According to the Global Times, after the epidemic, the global performance market ushered in a booming recovery. Since this year, “Swift Economics” has spread to Latin America, Asia and Europe with her global tour plan, and the schedule is scheduled for next summer. According to the Guardian, fans’ frantic consumption of Swift will help the market avoid economic recession-people not only buy concert tickets, T-shirts and other peripheral products, but also drive consumption such as travel, hotels and catering . Swift has performed 5 times in Australia. Counting the increase in hotels and air tickets when the concert is approaching, Australia may usher in a wave of Christmas-like consumption growth in February next year. Also in Singapore in the Asia-Pacific region, the concert that will start in March next year has already attracted 8 million registrations, while the total population of Singapore is only 5.45 million. It can be seen that Swift’s strong appeal has already spread to neighboring countries.

According to estimates from the Fox website, Swift’s concerts in the U.S. alone can bring in US$640 million to US$730 million; Especially an economy that will exceed 50 countries.” In order to quell the controversy caused by high ticket price fluctuations, the state of Massachusetts proposed the “Taylor Swift Act”, requiring performance parties to implement a more transparent ticket price system. Some Brazilian lawmakers have also proposed a similar bill, requiring the authorities to crack down on scalpers. Violators can be punished with up to 4 years in prison and a fine of 100 times the original ticket price.

According to World Wide Web, Sun Jiashan, a well-known film critic and researcher at the Chinese National Academy of Arts, pointed out that in addition to the economic effects of the concert, Taylor Swift also led to a substantial increase in the sales of catering, hotels and tourism industries where the performance was performed. It is also the reason why it can be called an “economic phenomenon”.

The phenomenon of “Swift economics” has its own unique causes, mainly in the following three aspects. First of all, Swift itself has a strong influence and appeal. Secondly, offline live performances have been greatly impacted by the epidemic in recent years, and the entertainment demands of the public have not been met for a long time, which has shown explosive growth this year. Third, the “viral” spread on social media has greatly increased the attention of the concert. Not only the singing works themselves, but even his own performance costumes have also become a hot spot of attention.

Chen Shaofeng, vice president of the China Cultural Industry Promotion Association and a professor at Peking University, believes that the popularity of “Swift Economics” in Europe and the United States has brought two important inspirations to China’s performing arts economy, especially how to carry forward Chinese traditional culture: the first is It must be geared towards the mass market, especially to be close to the cultural consumption psychology of young people; the second is to activate the entire industrial chain, and the focus should not only be on the stage, but also off the stage.

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