Taylor Swift's Eras Tour isn't only leaving an impact on her diehard "Swifties." The pop star sensation and her highly-anticipated tour are bringing in millions of dollars to the Los Angeles economy.
A new report from the California Center for Jobs and the Economy estimates the Taylor Swift Eras craze is raking in $160 million in local earnings for Los Angeles.
All in all, Swift's six nights of sold-out attendance at the 70,240 seat SoFi Stadium in Inglewood are believed to result in a $320 million bump to the county's GDP through direct, indirect, and induced impacts.
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The money being generated by the shows is flowing to local and state governments through taxes, the LA tourism industry, local businesses, and residents. About 3,300 new jobs are estimated to be created according to the report.
OTA Insights, a hospitality industry market research firm, reported that hotels in Los Angeles saw a spike in bookings around the tour's LA dates.
A recent survey found that concertgoers were spending around $1,300 per show, with a total economic impact of $5 billion to be generated by end of the Eras Tour.
"If Taylor Swift were an economy, she’d be bigger than 50 countries," said Dan Fleetwood, President of QuestionPro Research and Insights, who conducted the national survey.
Swift will be headlining SoFi Stadium until Wednesday, Aug. 9 before heading to Mexico City and Europe.
