The Economics of …Taylor Swift

Love her or hate her, there’s no question that Taylor Swift is one of the biggest stars in music.

With millions of fans from every corner of the world, this young pop-country star has taken the Billboard Top 100 by storm, churning out hit after hit without showing any signs of slowing down.

Playing to sold-out stadiums around the world, economists have been noticing an interesting trend when it comes to this mega-star — she affects local economies with every global stop she makes.

The most recent notable example is the Super Bowl. Taylor Swift’s boyfriend, Travis Kelce of the Kansas City Chiefs, took home a Super Bowl Championship at this year’s game. Kansas fans were, of course, thrilled, but the millions of Taylor Swift fans watching the game were just as thrilled to cheer on her boyfriend’s winning team. The NFL has noted a huge ratings boost as a result of her fans, also known as ‘Swifties’.

After attending her first game as Travis Kelce’s girlfriend, Kelce’s jersey sales jumped 400% overnight. Since then, the singer has generated $332 million in equivalent brand value for both the Chiefs and the NFL.

This phenomenon has happened and will continue to happen elsewhere. With performances in Singapore, Japan, Portugal, and Austria, she is expected to attract tens of thousands of fans to these areas — not just locals, but tourists, and those tourists bring with them millions of dollars in global spending.

Hotels, restaurants, shopping, and other attractions benefit from her presence at these shows. And at a sensitive time for tourism and retail spending after the pandemic, it couldn’t come at a better time. Call it ‘Swiftonomics.’

While we might not attract money in the same way Taylor Swift does, we can take control of our own finances – like paying off debt, putting money aside in savings, and planning for retirement are all #goals.

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