It’s the last day of The Eras Tour and it looks like Los Angeles County is feeling the “TSwift Lift” that comes along with it.
The phenomenon dubbed the “TSwift Lift” attributes an increase in a region’s gross domestic product to Taylor Swift’s concerts, which have taken the province by storm over the past six days.
According to California’s Center for Jobs and the Economy, Taylor Swift’s six-concert run resulted in a $320 million increase in LA County’s GDP and added 3,300 jobs, as well as $160 million in revenue for businesses and the city. For perspective, Super Bowl 56 was predicted to have an economic impact of $230 to $477 million for the county.
“Economic activity badly needed in Los Angeles,” said financial expert Ron Lapsley. “As they continue to try and recover from the pandemic.”
Lapsley is the president of the California Business Roundtable, which runs the Center for Jobs and the Economy. He added that the Eras Tour has brought in millions of dollars in tax revenue for the city and state.
“They’re staying in Los Angeles. They’re probably going to Universal Studios, definitely spending money in restaurants next to hotel rooms,” Lapsley said. “They also make it a holiday.”
According to the report, a survey found that the average concertgoer spent more than $1,300 on hotel travel and on food and drink.
After a whirlwind and huge windfall for local businesses, the City of Inglewood expects to know the full economic impact in October when its quarterly sales tax numbers are released.
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