Taylor Swift’s Eras Tour Excites Economists

It’s not just Taylor Swift fans keeping a close eye on her Eras Tour dates. One of Europe’s most prominent economists, Philip Lane, the chief economist at the European Central Bank, had the pop star on his mind when he spoke at an event on Monday. The interviewer had asked him about the risk that stubborn inflation in the services sector could intensify, especially with Europe heading into a busy summer with major events like the Olympics in Paris and the Euro 2024 soccer championship in Germany.

The Economic Impact of Taylor Swift’s Tour in Europe

Ms. Swift’s tour in Europe this summer is expected to bring in hundreds of thousands of Swifties spending on airfare, hotels, restaurants, and merchandise. With eight shows scheduled at London’s Wembley Stadium alone, about 700,000 people are expected to attend the concerts in the British capital. Analysts are debating the economic footprint it will leave and its broader impact on the region.

• Consumers splurging on concerts, meals, vacations, and recreational experiences missed during lockdowns
• Estimated $4.6 billion economic impact in North America from spending on tickets, merchandise, and travel

Central bankers are keeping an eye on the potential inflationary effects of a global superstar’s arrival. In May last year, when Beyoncé kicked off her Renaissance World Tour in Stockholm, an economist attributed a blip in the inflation data to the singer’s concert as fans traveled from afar to witness the first show.