Taylor Swift boosts UK economy by one billion pounds

British bank Barclay’s says that Swift, who has just kicked off the European leg of her popular tour, will bring around 997 million pounds ($1.26 billion) into the UK economy

Taylor Swift is doing much more for British Swifties than just performing their favourite hits this summer—her Eras Tour is now projected to boost the UK economy by nearly one billion pounds.

According to The Hollywood Reporter, new report from British bank Barclay’s says that Swift, who has just kicked off the European leg of her popular tour, will bring around 997 million pounds ($1.26 billion) into the UK economy, thanks to fans spending an average of 848 pounds to see her live.

The report also said that attending one of Swift’s 15 UK tour dates is expected to be more than 12 times the average cost of a UK night out, projected to be 67 pounds, and even higher than the cost of a bachelor or bachelorette party 779 pounds.

Apart from the tickets, fans also spend on accommodation, travel and clothing for the big night. Almost a fifth buy new outfits, especially for the concert, Barclay’s said. More money is expected to be spent on official merchandise at the four tour stops: London, Liverpool, Edinburgh and Cardiff and pre-gig meals will also boost restaurant sales near the venues. Almost 1.2 million fans are projected to attend across the 15 dates. A behavioural scientist at Barclay’s likened Swift’s impact to the fan crazes associated with Elvis Presley and The Beatles.

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