2024 in photos: How Taylor Swift generated the GDP of a small country

"Swiftonomics," the economic influnece that singer Taylor Swift has when she tours, was solidified in 2024. As her Eras tour came to an end in 2024, it will go down in history not only as a musical milestone but as a new economic trend.

In total, fans spent an estimated $5 billion in the United States, according to an estimate by survey company Question Pro. However, when taking into account indirect spending that includes purchases outside of the venue, that number may have exceeded $10 billion, according to the US Travel Association.

Want to stay up to date with the best entertainment news and analysis? Follow us here!

Monetary authorities confirm it. In the beige book of the Federal Reserve of the United States, a publication that provides a description of economic activity and expectations for each district, it was noted that May 2023 was the best month in terms of hotel revenues in Philadelphia since the beginning of the pandemic. The reason? The influx of travelers who stayed in the city to attend Taylor Swift concerts.

Chicago is another example. According to Fortune magazine, the city recorded a record number of hotel bookings during the three days of concerts held by the artist in the city. An average of 44,383 hotel rooms were occupied each night on Friday and Saturday, a historic record, according to Choose Chicago, the city's tourism office. Occupancy rates reached an average of 96.8%.

The same happened in Mexico. Taylor Swift gave four concerts in the country's capital. According to El País México, these events generated 1.011 billion pesos (over $59 million).

The concerts of this superstar are significant for the local economy due to the spending of fans around the event. These include costs for transport to get to the concert, food, lodging, merchandise, tourist tours, and purchases of every kind.

In fact, according to the American survey company Questionpro, on average, the singer's followers spend $1,300 for the concert. In the United States alone, the average ticket cost was $254.

In just the US, the direct spending on her concerts is believed to have exceeded the GDP of about 50 small countries.

When Swift started dating NFL player Travis Kelce, Swifties also started making an impact on the world of football. Eric Smallwood, president of Apex Marketing Group, said Swift had generated $331.5 million in equivalent brand value, or EBV, for Travis Kelce's football team and the NFL as of Jan. 22. CBS reported a 53% increase of girls ages 12-17 watching NFL.

In 2024, Swift took the tour international, and the same pattern occured. For instance, Tokyo City University lecturer Mitsumasa Etou told CNN that Swift was expected to generate up to 34.1 billion yen, or $229.6 million USD. Etou named the tour Japan’s “biggest ever musical event in terms of predicted economic impact, where Tokyo will see a minimum 25% increase in revenue every night of the tour’s presence."

Beyond her concerts, the movie 'Taylor Swift: The Eras Tour,' directed by Sam Wrench, which documents the artist's tour, has become the highest-grossing concert film in history, dethroning Michael Jackson's 'This Is It' from 2009. The revenues have exceeded $261.6 million worldwide, according to Variety. 'This Is It' earned $261.2 million in cinemas.

Her success not only moves economies but also fattens her wallet. In 2024, Forbes estimated Swift's fortune at $1.6 billion, up a cool $500 million from the year prior. Her assets include over $500 million from royalties and tours, the value of her music catalog, and real estate.

Swift's phenomenon is beginning to be studied even in universities. As reported by El País, in Europe, a professor at the University of Ghent (Belgium) explores in her classes the relationship between the singer's songs and the classics of English literature between the 9th and 19th centuries.

Photo: Rosa Rafael / Unsplash

Harvard, one of the most prestigious universities in the world, also offers a course about Swift, examining the singer's texts and analyzing her impact on culture and society.

Photo: Pascal Bernardon / Unsplash

Inside Higher Ed reports that Swift is now a regular in economics courses across higher education institutes. “When the concert [tour] first exploded, it was really evident it helped students engage in the curriculum,” said professor Ryan Herzog, who designed a Swift-based circulum alongside Nobel Prize winner Paul Krugman . “Who gets excited about monopolies? Well, Swifties are, all of a sudden, and they got excited because of one person.”

In a monologue at the end of January, host Jimmy Kimmel joked about the influence Swift could have had on the elections, claiming that neither scandals nor processes will stop the Republican candidate, saying what will finally bring down Donald Trump will be an army of angry Swifties.

Despite her coming out against the Republicans as a "crazy cat lady," her influence did not translate to political results this year. Instead, Trump and Vance are packing their bags for the White House after a landslide win.

Photo: Taylor Swift / Twitter (X)

On December 8 2024, the Eras tour officially wrapped up in Vancouver. Her company confirmed that it generated more than $2 billion in revenue for the company, the first official discolsure. That means it more than doubled the revenue as the previos record-holder.

Want to stay up to date with the best entertainment news and analysis? Follow us here!