In recent weeks, Barclays has faced criticism for its involvement in funding the arms industry. However, despite this controversy, the bank has made claims that Taylor Swift’s Eras tour will inject nearly £1 billion into the UK economy this year.
According to Barclays’ analysis, the significant economic boost is expected to come from approximately 1.2 million fans attending the 15 concerts, with an average spending of £848 per person on tickets, travel, accommodation, food, outfits, merchandise and other expenses. The analysis also indicated that while the average ticket cost is £206, 14% of fans spent over £400 on VIP options and premium seats.
This data highlights the substantial economic impact of music tours and the willingness of fans to spend on such experiences. Comparatively, the average spending of £848 for Taylor Swift’s tour exceeds the average spending of £779 by Brits when they go on hen or stag dos. This shows how popular music tours can be and how much money they can generate for the economy.
