The Fed says Taylor Swift’s tour “boosted the economy” in the United States

The Federal Reserve or the Fed, announced that it generated a great stimulus in the US economy since it greatly promoted the country’s tourism industry.

In addition, a report detailed that each of the 12 fed districts recognizes that the hotels had, thanks to the tour, the highest level of reservations since the beginning of the pandemic.

The economic impact of Taylor Swift on the US economy

The most recent report from the Federal Reserve Bank of Philadelphia, published on Wednesday, explains that “despite the overall slow recovery of tourism in the regionMay was the strongest month for Philadelphia hotel revenue since the start of the pandemic, largely due to the influx of attendees to Taylor Swift concerts in the city”.

On the other hand, Choose Chicagothe official tourism promotion organization, noted that its hotels broke occupancy records the first weekend June thanks to the two recitals Swift gave at Soldier Field.

From Cincinnati, officials thanked the artist’s tour for helping the city’s hotel industry raise more than $2.6 million and those of Hamilton more than $5.3 million in early July and generated occupancy levels of 98%. The phenomenon was called “Swiftinnaty”.

“Taylor Swift is a force to be reckoned withJulie Calvert, president of local tourism organization Visit Cincy, said in a news release.

“Swift’s economic impact is staggering,” said Calvert, who also noted that “her fans come from all over to attend her concerts, packing hotels, restaurants and local attractions. Swift’s influence on tourism testifies to her ability to captivate audiences and boost economic growth.

According to data from the concert monitoring group Pollstar, “Eras Tour” grossed over $300 million and estimates that it could exceed $1 billion in 2024 thanks to the international dates added to the tour.