Taylor Swift California shows to add £250 million to LA county economy – report
A new study by the California Centre for Jobs and the Economy said the ‘economic boom’ resulting from the shows was ‘critical’.
Taylor Swift’s historic run at the SoFi Stadium in California will provide an estimated 320 million dollars (£250 million) for the local economy, according to a new report.
A new study by the California Centre for Jobs and the Economy said the “economic boom” resulting from the shows was “critical” for regional communities still recovering from the coronavirus pandemic.
Swift’s final concert at the venue, which can reach a capacity of up to 100,000, takes place on Wednesday.
The past week has seen businesses across the Los Angeles area promote themed events and products in celebration of the singer’s presence.
The report’s estimates cover only economic activity from the six SoFi Stadium concert dates.
“The current Taylor Swift tour is estimated to have a substantial economic effect on cities included as venues, with some estimates ranging up to as much as five billion total (£3.9 billion),” it said.
“Travel and tourism in this region have still not recovered to pre-pandemic levels, making the economic boom resulting from the six-day tour even more critical for local and regional economies.”
The organisation said that based on assumptions including average ticket prices, merchandise sales and rates of hotels, the shows were estimated to result in a bump of 320 million dollars (£250 million) to Los Angeles County GDP.
Area employment will increase 3,300, and local earnings by 160 million dollars (£125 million), the report added.
