- ORIGINAL NEWS
Economic boost from Taylor Swift’s Eras Tour could be overstated, Nomura warns
- SUMMARY
Taylor Swift’s Eras Tour brought a significant economic impact to the U.S. through increased retail sales and a small increase in gross domestic product (GDP).
However, the tour’s impact on national-level data was smaller than anticipated.
The tour led to a boost in the economy of the cities where she performed, affecting lodging prices, occupancy rates, and hotel revenue.
While the local economic benefits can be substantial, their impact on larger countries’ national data is typically marginal.
Smaller economies like Singapore and Sweden might experience more prominent macro boosts from her tour.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Taylor Swift’s Eras Tour undoubtedly helped the local economies she held concerts in.”
“Her tour undoubtedly helped the local economies she visited, according to a new report out from Japanese investment bank Nomura.”
Negative
“Nomura sees the national-level effect being smaller than some anticipate.”
“Nomura global economist Si Ying Toh wrote to clients last week: ‘Her boost to consumption has certainly enchanted US economic analysts, but we believe the total macroeconomic effect is probably overstated.'”