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Taylor Swift expected to inject 100s of millions into Toronto

Economic boost of pop star91裸聊视频檚 six shows could grow into a $282-million economic impact
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Taylor Swift performs at Wembley Stadium as part of her Eras Tour on Friday, June 21, 2024 in London. A tourism organization is estimating Swift91裸聊视频檚 six Toronto concert dates will inject hundreds of millions of dollars into the city91裸聊视频檚 economy.THE CANADIAN PRESS/AP-Photo by Scott A Garfitt/Invision/AP

Taylor Swift fans headed to Toronto for a run of six concerts next month are expected to bring with them hundreds of millions of dollars in local economic activity, according to new modelling from a tourism organization.

Destination Toronto CEO Andrew Weir said the non-profit is predicting $152 million in direct spending associated with Swift91裸聊视频檚 Eras Tour during the 10 days it91裸聊视频檚 in town, which the organization anticipates will grow into a $282-million economic impact as the money continues to circulate.

91裸聊视频淲e91裸聊视频檝e got 282 million reasons to be excited about Taylor Swift coming to the city,91裸聊视频 he said by phone on Tuesday. 91裸聊视频淭hat is, the economic impact that we91裸聊视频檝e now had a chance to calculate at least on a projection estimate basis is very, very significant.91裸聊视频

The model the organization used includes predictions about spending on hotels, dining, shopping and other local fare, but does not include the cost of airfare or the concert tickets themselves, as that money is unlikely to stay in the city91裸聊视频檚 economy.

Of the $152 million in direct spending, Destination Toronto said $141 million is estimated to come from out-of-town visitors and $11 million is estimated to come from local fans.

Weir said those calculations are based on what other cities have seen since Swift launched her record-breaking tour, including Denver, which released a study on the concerts91裸聊视频 economic impact.

Swift91裸聊视频檚 ability to drive economic activity is remarkable, Weir said.

Industry publication Pollstar reported late last year that Taylor Swift91裸聊视频檚 Eras Tour was the first tour to cross the billion-dollar mark, citing data pulled from box office reports, venue capacity estimates, historical Pollstar venue ticket sales data, and other undefined research, collected from Nov. 17, 2022 to Nov. 15, 2023.

Meanwhile, her blockbuster film adaptation of the tour, 91裸聊视频淭aylor Swift: The Eras Tour,91裸聊视频 has reportedly earned more than US$250 million in sales, making it the highest-grossing concert film of all time.

In Toronto, Swift is set to perform six nights at the Rogers Centre, for a combined audience of roughly 240,000, Destination Toronto said. More than 60,000 people are also expected to attend Toronto91裸聊视频檚 Version: Taylgate 91裸聊视频24, a pre-concert event at the nearby Metro Toronto Convention Centre.

Other events have also cropped up, from themed brunches to an event at the Bata Shoe Museum to a singalong hosted by Choir! Choir! Choir!

91裸聊视频淭hat money doesn91裸聊视频檛 stop working once those visitors get on a plane and go home again, because that money is new to our economy,91裸聊视频 Weir said. 91裸聊视频淚t didn91裸聊视频檛 start the day in our economy, but it ends the day there, and then continues to recirculate.91裸聊视频

But one expert said the estimate doesn91裸聊视频檛 take into consideration the potential costs to taxpayers.

Joanne McNeish, who teaches marketing management at Toronto Metropolitan University, said additional garbage collection, added police presence for security and traffic rerouting 91裸聊视频 not to mention an uptick in crime associated with large gatherings 91裸聊视频 all cost the city money.

91裸聊视频淭he economic impact, to me, it sounds like revenue,91裸聊视频 she said. 91裸聊视频淎nd companies always talk about revenue. You want your revenue to be growing. But if you91裸聊视频檙e not making a profit, you91裸聊视频檒l be out of business pretty quickly.91裸聊视频

She said there91裸聊视频檚 undoubtedly a benefit to hosting these sorts of cultural events, but when times are tough financially and public services are being cut 91裸聊视频 as they are now 91裸聊视频 it91裸聊视频檚 worth asking questions about spending.

Weir said the public costs associated with Swift91裸聊视频檚 Toronto stint remain to be seen, but he noted a tour stop is unlike other large events such as the Olympics or the World Cup, in which cities are obligated to spend a certain amount of money on infrastructure.

He also said Destination Toronto91裸聊视频檚 modelling predicts $40 million in taxes will be generated by the tour stop.

Spokespeople for City Hall and the Toronto Police Service did not immediately respond to requests for comment.

Swift91裸聊视频檚 Toronto run of concerts is set to begin Nov. 14 and will wrap up Nov. 23. Her second stop in Canada will be in Vancouver in December, where she91裸聊视频檒l close out the tour.





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