Taylor Swift to boost the UK economy. According to the report titled “Swiftonomics” developed by Barclays, the contribution of Taylor Swift tour to the UK economy will be 1.2 billion dollars.
Singer Taylor Swift, who has made an economic impact in the USA, is now preparing to revive the UK economy. According to Barclays, which predicts that fans will spend an average of 848 pounds to see the singer, Taylor Swift’s tour will contribute 997 million pounds, or 1.2 billion dollars, to the UK economy.
Barclays predicts ticket holders will pay more than 12 times the average cost for a night’s accommodation in the UK (£67) and more than double the money spent to attend a wedding held in the UK (£398).
Barclays’ “Swiftonomics” report states that the average amount spent on tour tickets is £206. The report, which includes expectations for other spending items, predicts a spending amount of 121 pounds for accommodation, 111 pounds for traveling and 56 pounds for clothes to be worn at the concert.
Based on the calculation made based on the total expenditure of approximately 1.2 million ticket holders over 15 nights in four stadiums, Barclays estimates that the return of the tour will be £ 997 million.
“When it comes to cultural icons like Taylor Swift, fans have a very strong bond with both the artist and other fans,” said Peter Brooks, chief behavioral scientist at Barclays. “This makes the desire to spend even stronger,” he says.
The term “Swiftonomics” is used to describe the Canadian superstar’s impact on the economy. Swift’s fans flock to her concerts around the world and spend huge amounts of money while doing so. Recently, it has been observed that the tours of superstars, including Swift, Beyoncé and Bruce Springsteen, have a serious impact on the economy.
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