Taylor Swift Eras concerts are expected to generate $282 million for Toronto

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Taylor Swift won't be the only one to make millions. Era's tour will come to Toronto's Rogers Center next month for six sold-out concerts.

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According to Destination Toronto is a not-for-profit organization that supports the city's tourism industry, and a pop star's appearances could have a $282 million impact on the local economy, of which $152 million could come from direct spending. An estimated 93% of that amount – $141 million – will come from out-of-towners visiting local restaurants, hotels and stores, with the remaining $11 million coming from Toronto residents.

The organization said the direct and indirect tax impacts of Swift's performances on November 14, 15, 16, 21, 22 and 23 will generate nearly $40 million in tax revenue.

“These economic impact numbers demonstrate that Taylor Swift and the Eras Tour will have an extremely positive and significant economic impact on Toronto and our local economy,” Toronto Mayor Olivia Chow said in a statement. “Toronto is excited to welcome another major event in November that will provide millions of dollars in direct spending and support local businesses and jobs.”

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“The Eras Tour is a great example of the impact that major events have on our destination,” added Andrew Weir, CEO and president of Destination Toronto.

The organization notes that Swift's concerts fall at times when business travel began to slow during the year, and leisure travel did not quite pick up.

Approximately 240,000 concertgoers are expected to attend the Eras Tour at the Rogers Center, with over 60,000 expected to visit the Toronto Version: Taylgate '24 pre-concert event taking place next door at the Metro Toronto Convention Centre.

In addition to Taylgate, several Swift-themed events and activities are planned throughout the city, including Taylor Swift Fan Night at the Bata Shoe Museum, Taylor Swift Brunch in Patois, TDOT SWIFT 4 CATS fundraiser at El Mocambo, ERAS! ERA! ERA! Presented by Chorus! Choir! Choir! at Longboat Hall and beyond.

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ANDOn September 29, the tour group said hotel reservations were down Eras Tour dates in November increased by almost 83% year-on-year in the city center. Room bookings also increased 36% off-base.

Swift's Eras Tour, which kicked off in March 2023, has made headlines not only for being one of the hardest tickets to get, but also for the amount of money it pumps into the cities' local economies, in which he plays.

in December, Pollstar announced it Swift's tour grossed a whopping $1.04 billion and 4.35 million tickets sold across 60 shows, surpassing Elton John's multi-year farewell tour.

Billboard estimated in the same month that Swift's total earnings last year were nearly $2 billion, taking into account sales of her music and accompanying videos and tour merchandise.

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Last year, the Eras Tour was predicted to draw close $5 billion in consumer spending in the United States itself. “If Taylor Swift were an economy, it would cover over 50 countries,” said Dan Fleetwood, president of IssuePro Research and Insights, in story for GlobalNewsWire.

During her opening concert 19 months ago in Glendale, Arizona, Swift injected herself with the drug more revenue for local businesses than Super Bowl LVIIwhich took place a month earlier at the same stadium.

After playing eight shows at London's Wembley Stadium last summer, Barclays predicted what Swift's tour would lead to an increase of almost £1 billion (S$1.8 billion) in the UK economy.

However, during her tour, Swift's economic influence also extended to other areas. The 14-time Grammy winner has made numerous donations to food banks, handed out bonuses to people working during her tour, and this month wrote a check for $5 million to help victims Helene and Milton after two hurricanes tore through Florida and neighboring states.

Ontario Premier Doug Ford also welcomed the upcoming performances in Toronto, telling reporters Tuesday that he “can't wait for her to come here.”

“She is a great businesswoman and musician. Man, excuse the pun, but what a rock star; she comes here and creates more jobs.”

mdaniell@postmedia.com

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