Taylor Swift will bring an estimated $157-million economic impact to the city next week with the three final concert dates of the record-breaking Eras Tour, Destination Vancouver said.
The tourism body said its forecast included $97 million in direct spending on items including accommodation, food and transport.
It said the Eras Tour is expected to bring more than 150,000 Swifties to BC Place over the three shows from Dec. 6 to 8, and had resulted in more than 82,000 rooms booked across the region.
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The tourism organization made the calculations with BC Pavilion Corporation, which operates BC Place, and said 70 per cent of direct spending would be from out-of-town fans.
It said the economic boost would result in more than $27 million in total tax revenue for all three levels of government.
Jarrett Vaughan, an adjunct professor at the University of British Columbia’s Sauder School of Business, said that while he wasn’t privy to the calculations, the numbers seemed realistic.
“Any time we have some significant movement to the City of Vancouver, whether it’s cruise ships or destination concerts like Taylor Swift, without question, it’s helpful for the economy,” he said in an interview Tuesday.
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Vaughan said signs of an economic boom can be seen in how local businesses are responding, as they prepare to host various Swift-themed events and promotions.
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“This is absolutely unprecedented,” he said, noting that Vancouver has hosted other world-class events such as the Olympics and the Stanley Cup Finals.
“We see the impact of this is quite real for business owners who are trying to ensure Taylor Swift fans that they’re operating in a way that is not just supportive of them, but that is giving them greater opportunities to enjoy a Taylor-Swift-adjacent experience to the concert itself,” he said.
Destination Vancouver noted fan events were planned across the city, including 13 Swift-themed lighting installations in the downtown core starting Friday and ending a week later on the day of the first show.
“Destination Vancouver volunteers will be on hand to assist fans with directions and information over the concert weekend and to hand out special ‘Vancouver’ friendship bracelets,” the organization said in its release.
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The Vancouver dates that close out Swift’s two-year world tour come after six sold-out concerts at Toronto’s Rogers Centre, which spanned two weeks and concluded Saturday.
Destination Toronto had estimated $152 million in direct spending, which was expected to grow to $282 million as the money continued to circulate.
The Eras Tour has touched down in five continents and will have clocked nearly 150 performances by the time it’s over.
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Mayor Ken Sim said in a news release about the economic impact that he is “thrilled” Vancouver was chosen to host the last stop on Swift’s tour.
“This iconic event hasn’t just captivated audiences around the world, it has translated into a huge economic boost for every city it has visited, and Vancouver is no exception,” Sim says.
“Vancouver is proud to be a world-class city, and hosting an event of this scale only strengthens our place as a top-tier global destination.”
Destination Vancouver said B.C. charities have also been “significantly boosted over the last month through donations of tickets and prize packages” via the BC Place Community Benefits Program, with tickets auctioned or raffled to raise funds.
© 2024 The Canadian Press
