NAB data reveals Taylor Swift’s The Eras Tour delivered $300 million for city economies

The Taylor Swift l The Eras Tour, held in February over four consecutive nights at Sydney’s Accor Stadium and three consecutive nights at Melbourne Cricket Ground helped generate more than $300 million for Sydney and Melbourne economy.

National Australia Bank (NAB) data reveals Taylor fever gripped Sydney-siders with an estimated $135 million boost in spending recorded at businesses in Sydney’s inner suburbs across a four-day period 23rd to 26th February.

An estimated $33 million was poured into the Harbour City’s accommodation, hospitality, and tourism sectors.

NAB merchant terminal data shows this is a 20% increase in spend when compared to the month prior, with an estimated $33 million poured into the city’s accommodation, hospitality, and tourism sectors.

The data provided by NAB, also reveals businesses around the Sydney CBD were the big winners:

• General merchandise stores up 117%

• Accommodation up 72%

• Bars and pubs up 49%

More than 320,000 ticket holders, and thousands more “Taylor-gaters”, flocked to Sydney’s Olympic Park to witness the US megastar’s glittering stage show.

NAB Executive for Business Metro and Specialised, Julie Rynski said the superstar’s seven-night Australian extravaganza had enchanted the local economy, offering an incredible economic boost for Melbourne and Sydney’s economies.

Rynski shared “From hotel rooms to heaving restaurants, merchandise stands to packed pubs, her four Sydney gigs created a buzz in the city not seen since before the pandemic.

“The cultural and economic impact of her seven, sold out, Melbourne and Sydney shows will last long in the collective memory, while businesses across both capital cities can be very thankful for the ‘Taylor effect’, which has helped spark a late summer spending spree.

“There’s no doubt businesses and consumers have had a difficult last 12 months or so, but despite this, it’s clear people are continuing to carefully evaluate and prioritise their spending on the things or experiences they truly value.”

Image. Taylor Swift performing at Accor Stadium 2024. Credit: Dace Greselin