Taylor Swift Concert Predicted to Contribute IDR 20 Trillion to UK Economy
At Taylor Swift's concert in Sydney, Australia. Photo: David Gray/AFP
- Taylor Swift will start The Eras Tour concerts in the UK this June and August 2024. The concert is estimated to be able to boost the country's economy by almost 1 billion pounds or the equivalent of IDR 20.67 trillion (exchange rate of IDR 20,672 per British pound).
Reporting from the BBC, Saturday (8/6/2024), fans who come to The Eras Tour concert are estimated to spend an average of around 848 pounds or IDR 17.52 million in the UK for tickets, travel, accommodation and clothes. .
The estimates are the latest example of so-called 'Swiftonomics', a phenomenon in which Taylor Swift's presence can influence the economy of the country or venue where she holds concerts.
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The well-known British bank, Barclays, reported that the average amount spent by their customers to take part in the Eras Tour concert reached 206 pounds or IDR 4.25 million, with 14% of fans spending more than 400 pounds or IDR 8.26 million for package facilities. VIP and exclusive merchandise.
Then the travel costs for fans averaged 111 pounds or Rp. 2.29 million. Because the Eras Tour shows will take place in Edinburgh, Liverpool, Cardiff and London, it is predicted that many fans will travel to other cities for the event.
Not to mention that fans will also need to pay accommodation costs on average of 121 pounds or IDR 2.5 million. This calculation does not include the cost of eating out or other necessities.
This condition is then estimated to be able to boost the UK economy by up to 997 million pounds (almost 1 billion pounds) or IDR 20.60 trillion. Although Barclays itself does not rule out the possibility that the economic increase that occurred thanks to Taylor Swift's concert will not be as big as they predicted.