Federal Reserve Applauds Taylor Swift For Helping the Economy
Taylor Swift's Eras Tour is improving more than just the lives of Swifties!
According to a new report from the Federal Reserve, one contact in Philadelphia highlighted the fact that, amid an overall slowing recovery in the tourism industry in general, May was the strongest month for hotel revenue in the area since the onset of the Covid-19 pandemic, which they largely credited to the folks coming into town for Swift's series of concerts on May 12, 13 and 14.
According to NBC, Cincinnati officials also recently credited Swift's Eras Tour with boosting their local business, citing the event with helping downtown hotels gross more than $2.6 million, while surrounding area hotels grossed more than $5.3 million.
"Taylor Swift is a force to be reckoned with," President and CEO of tourism group Visit Cincy Julie Calvert told the publication. "The economic impact Swift creates is staggering, as fans travel from far and wide to attend her concerts, filling hotels, restaurants, and local attractions. Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth."
Chicago's tourism and conventions bureau, Choose Chicago, observed a similar trend, noting that the first weekend in June—when the Eras Tour, as well as a handful of other big events, was in town—saw a record-breaking occupancy in local hotels—and not just post-pandemic, but in Chicago's history.
Boston observed this as well in May, despite Gillette Stadium being located 30 or so miles away. The weekend Swift played there, hotel rooms, trains, and even restaurant reservations were reportedly maxed out.
In addition to fueling local economies, Swift has also been exposed for her generous, yet quiet, donations to local food banks in the locales in which her tour passes through.
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