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Melbourne’s Economy Benefits from Swiftie’s $174 Million Love Story Investment

Pop megastar Taylor Swift has left an economic love story in the wake of her concerts in Melbourne.

Over the three days her Eras Tour was in town, the city had a $174 million (US$113 million) boost in spending, according to figures from NAB.

That’s up by a third on the previous month, based on data from the bank’s merchant terminals.

“We know many Australians have pulled back on discretionary spending, but this is the perfect example of Aussies saving their hard-earned cash for the things that matter to them,” NAB executive Julie Rynski said.

Some estimates of Swift’s impact on the local economy have ranged north of $1 billion (US$653,390), while others have reckoned less than one-tenth of that number.

But NAB’s merchant data shows the Eras Tour has left behind a tangible economic boost, Ms. Rynski said.

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For businesses near the Melbourne Cricket Ground where Swift performed, accommodation spending more than tripled, up 238 per cent, while restaurants doubled their take.

Bars and pubs could also brag about raking in dollars, with their take up 146 percent.

Overall, an estimated $86 million was spent on accommodation, hospitality and tourism, according to NAB.

The Eras tour is moving to Sydney, where Swift will play four shows at Accor Stadium starting Feb. 23.

After tickets went on sale to the Melbourne and Sydney shows in June 2023, Virgin Australia said its bookings jumped 656 per cent.

The airline scheduled more than 490 flights to and from Melbourne over the days of the concerts and another 640 for Sydney while the Eras Tour is in town.

Qantas and Jetstar are getting 30 per cent more passengers across their domestic and trans-Tasman network thanks to The Eras Tour.

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