The second UK leg of Taylor Swift’s Eras tour this week will generate more than £100 million extra spending in the capital, a report claimed today.
The US singing superstar sold out Wembley stadium last night for the first of five gigs in the capital that wll be seen by a total of 450,000.
It follows ten concerts in Scotland, Wales and England in June that some City analysts say had a measurable impact on the overall UK economy, largely through demand for hotel accomodation that send room rates soaring in the month.
A report by discount site VoucherCodes.co.uk found that each London show will generate £21.7 million for the capital with Swifties set to spend an average of £566.
With fans travelling from across the UK and from abroad to witness the spectacle of the Eras Tour, accomodation once again makes up the biggest portion of the Swiftie budget with each ticket-holder forking out £152.24 on average for a hotel room.
On the day itself, Swifties will spend an average of £84.99 on on merchandise such as tour t-shirts, hoodies, and posters as well as £29.30 on food and snacks, and £51.13 on drinks to keep them going through the three and a half hour show.
Across the fifteen UK tour dates, Taylor Swift’s Eras Tour is set to generate £700 million for the UK economy, according to VoucherCodes.co.uk.
Anita Naik, Savings Expert at VoucherCodes.co.uk, said:“Going to The Eras Tour isn’t cheap and with the final shows taking place in one of the most expensive places in the UK, ticket-holders can expect some sky-high prices, however, there are some easy ways to keep costs down.
“Drinks in the venue will likely be expensive so to save money, have a couple beforehand and then stick to the free water that can be found around the stadium. Phone signal can also be patchy in crowded areas and you don’t want to have to fork out for an expensive cab ride, so learn your tube and bus routes home before the concert starts.”
Some City economists this week attributed the smaller than expected rise in inflation in July to hotel prices subsiding again after the spike in June.
Deann Evans, managing director, EMEA, at commerce platform, Shopify, said: “Taylor Swift’s Eras Tour returning to Wembley will be a key retail moment in August. Other than boosts for merchandise and food & drink spending, Shopify merchant, Little Lies, saw a 17,000% increase in sales versus the same day in 2023, due to Taylor Swift wearing a dress from their brand, showing her impact on commerce is very real.”
