'Swiftonomics': Taylor Swift's Eras Tour to boost UK economy by almost £1 billion

The ‘Swiftonomics’ report found that the Eras Tour will provide the UK economy with a £997 million boost.

Taylor Swift’s record-breaking Eras Tour looks set to boost the UK economy by almost £1 billion.

The Swiftonomics report by Barclays found that the arrival of the Eras Tour in the UK later this year will boost the country’s economy by £997 million.

Taylor Swift performing during the European leg of her Eras Tour.

Swift will perform 15 shows across the UK in June and August, with around 1.2 million fans spending £848 on tickets, travel, accommodation and outfits, as well as other variable costs on average.

What is the average spend for Swifties attending the Eras Tour in the UK?

For an Eras Tour ticket in the UK, on average fans spent £206. However, the 14% of Swifties who purchased VIP ticket packages, complete with premium seats and exclusive merchandise, will have spent more than £400.

In addition to tickets, there is then accommodation, travel and merchandise to consider, with one fifth of concert-goers also buying a new outfit especially for the event.

Taylor Swift performing onstage during the Eras Tour.

The Swiftonomics report also found that fans will spend an average of £59 on a meal ahead of the concert at restaurants near the Eras Tour venues in London, Liverpool, Edinburgh and Cardiff.

Barclays’ report combines hundreds of millions of customer transactions with consumer research on the spending habits of Taylor Swift fans.

Swiftie spending

On average, here are the exact amounts UK Swift fans spend on the Eras Tour:

• Tickets — £206
• VIP tickets — more than £400
• Accommodation — £121
• Travel — £111
• Merchandise — £79
• Pre-concert meal — £59

Factoring in other additional costs, such as clothes, the report found that the total average spend by Swifties is £848.

Fans will travel around the country to see Taylor Swift’s Eras Tour

When tickets for the Eras Tour went on sale in July last year, there was a 15.8% year-on-year increase in the country’s entertainment spend.

The star will perform 15 shows in the UK, kicking things off with three nights in Edinburgh. One in four fans attending these shows say that they will have to travel to a different city to see Swift.

Meanwhile, one in five fans chose to purchase tickets for the Eras Tour in mainland Europe for reasons such as ticket availability, cheaper additional costs such as travel and accommodation or, as Barclays state, even just to combine the concert with a holiday.

Ahead of the Eras Tour, Taylor Swift fans make friendship bracelets to swap with others in the crowd at the concert. Image: Getty

Swifties are certainly a dedicated bunch with the report finding that 21% of fans had bought Swift’s 2022 album Midnights, with another 15% having pre-ordered The Tortured Poets Department ahead of its release.

And while waiting to see Taylor Swift in the UK, 8% of fans are planning to either host or attend themed parties while also brushing up on their Eras Tour knowledge with 28% having watched or planning to watch the concert film.

Some (14%) are even tuning into American football to catch a glimpse of the American singer-songwriter in the crowd as well as listening to New Heights, the podcast hosted by Swift’s boyfriend Travis Kelce.

Money can buy Swifties’ happiness

Dr Peter Brooks, chief behavioural scientist at Barclays, said: “Whoever came up with the phrase ‘money can’t buy happiness’ clearly wasn’t a Swiftie.

“There’s growing evidence that spending on experiences boosts happiness and well-being more so than purchasing physical items, especially if that experience is shared with friends and loved ones.

“When it comes to cultural icons like Taylor Swift – like we saw with Elvis and Beatlemania in the 50s and 60s – supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful.

“For non-fans, £848 may seem like an enormous amount to splash out on a concert, but for Eras Tour ticket-holders, every pound they spend is an investment in the memories they’ll create.”