Taylor Swift’s Eras Tour successfully ended its Sydney (Australia) leg on February 26. The “Country Music Princess” not only pocketed a huge amount of money, but also brought lucrative benefits to the New South Wales economy.
According to the Daily Mail, the beauty 𝐛𝐨𝐫𝐧 in 1989 earns about 25 million USD for each show in Sydney, which means she earned 100 million USD after 4 nights at Accor Stadium.
Not stopping there, Taylor “pumped” the New South Wales economy a huge sum of 145 million USD. This money is collected from thousands of local fans and from other states who flock to the port city to attend the most popular music event of the year.
“The Swift effect is undeniable when it comes to the economic impact her tours have on host cities. Based on previous calculations, her shows could inject between $150 and $200 million into a state’s economy, like we saw in Melbourne,” said the Authority’s CEO. Australian resident Michael Johnson told The Daily Telegraph.
Taylor Swift brings great economic benefits to the economies of the Australian states of Victoria and New South Wales. Photo: TAS.
The NSW economy is strong on many fronts: full hotel rooms, packed restaurants and bars and large numbers of fans splurging on merchandise.
Meanwhile, tax lawyer Harry Dell revealed that Swift will have to pay 30% tax to the Australian Taxation Office on income from the concerts. That means, the Australian government collected about $10 million in tax revenue from the Anti-Hero singer over four performances.
Previously, Swift helped raise a huge amount of $174 million for the Victorian economy after 3 performances in Melbourne. Thousands of fans spent a total of 86 million USD on accommodation, hotels and travel.
More than 600,000 people attended the Australian leg of the Eras Tour. Taylor’s single-night attendance record is 96,000 people in Melbourne and more than 83,000 people in Sydney.
The Swift Effect hits Singapore
The Swift Effect is starting to hit Southeast Asia. Singapore made some neighboring countries “red-eyed” when it had the exclusive right to organize the Eras Tour and profit from the tourism boom.
More than 300,000 local and neighboring fans are estimated to attend the American music superstar’s six shows at Singapore National Stadium from March 2 to 9.
Ingrid Delgado, a recent graduate in Manila (Philippines), bought a ticket on March 4. The girl said she bought “a sparkling new dress” for this special occasion. What worries her is finding affordable hotels. Because the rooms in her expected price were all booked in advance, Delgado had to rent at a more expensive hotel.
Hotels in Singapore were all in a state of sold out before Taylor’s six concerts in early March. Photo: Shutterstock.
Fullerton Hotels and Resorts and the Fairmont Hotel told AFP demand for rooms while Taylor was on tour increased dramatically.
Many people are willing to spend a lot of money to buy Marina Bay Sands luxury packages named after famous Swift songs, such as Shake it Off or Stay Stay Stay. The hotel’s $50,000 Wildest Dreams package includes VIP tickets, gourmet meals, hotel rooms, limousine transfers and tickets to tourist attractions. Hotel management said all service packages have been sold out.
Singapore Airlines and Malaysia Airlines reported an increase in flights to Singapore but it is not certain whether this is due to the Swift effect.
A large number of Malaysian Swifties (Taylor Swift fans) will go to neighboring Singapore.
“It’s a dream come true. I feel both excited and nervous,” shared Harith Arsat, a 20-year-old student about to make his first trip abroad from Kuala Lumpur.
Officials from the Ministry of Culture and the Singapore Tourism Board, citing business confidentiality, declined to say how much was paid or whether an exclusivity agreement existed to make Singapore Swift’s sole stop. as Thai Prime Minister Srettha Thavisin said or not. However, Singaporean authorities affirmed that Swift’s performances have the potential to create significant benefits for the country’s economy.
Singapore has rolled out the red carpet for many international artists such as BlackPink, Harry Styles and Ed Sheeran, since the country ended restrictions due to the COVID-19 pandemic. Coldplay had six sold-out shows in January. Upcoming artists include Bruno Mars, Sum 41 and Jerry Seinfeld.
Song Seng Wun, economic advisor to CGS International (Asia’s leading securities company), commented on AFP: “Singapore started to open faster than other countries after the pandemic. The first-mover advantage as well as concerted efforts to organize activities, events and conferences have helped. The strength of that trend is increasing day by day.”
The Swift effect is expected to generate significant benefits for the Singapore economy. Photo: Getty Images.
