Beyonce, Taylor Swift and Barbie’s Impact on US Economy
This summer, Beyonce, Taylor Swift and the Barbie doll have boosted the US economy thanks to their talent and the power of their influence. In stadiums and cinemas, viewers flock to the Renaissance World Tour, the Eras Tour or the Barbiecore phenomenon. Several studies have already revealed to what extent this summer the stars and their fans have shaken up US finances, with the tour dates producing exceptional local economic repercussions.
Taylor Swift’s North American Tour Generates 4.6 Billion Dollars
Let’s take a look at the figures: contacted by the New York Times, the data analysis company QuestionPro estimates that Taylor Swift’s North American dates alone could generate an economic activity of 4.6 billion dollars. Beyoncé’s Renaissance World Tour, on the other hand, entered history as soon as its European leg was over, with profits of 295.6 million dollars. Almost half of the shows were sold out and the RWT became the most profitable tour ever taken around by a black artist.
Barbie Breaks Box Office Records
As for Barbie, it’s very simple: it smashed all records. Greta Gerwig’s film, in addition to being the one with the highest box office ever directed by a woman, is also the box office champion of 2023 in the United States, with over one billion dollars at the beginning of August, less than two weeks after its release in theaters. Beyond the box office, these three successes and cultural phenomena benefit the local economy. In addition to paying several hundred euros for tickets, to attend Taylor Swift and Beyoncé concerts, fans are willing to spend between 1,300 and 1,800 dollars for transportation, accommodation, clothing and food. The US Federal Reserve has also highlighted the significant impact of Taylor Swift’s visit to Philadelphia, where last May the “inflow of customers” registered the highest peak “in terms of hotel revenues”. According to the California Center for Jobs and the Economy, quoted by CNN, “the last six nights of Taylor Swift’s Eras tour in Los Angeles should bring the city 320 million dollars”.