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Taylor Swift will have an estimated economic impact of $157 million for the city next week with the three final concert dates of the record-breaking Eras Tour, according to Destination Vancouver.
The tourism board said the forecast included $97 million in direct spending on accommodation, food and transport, among other things.
It says the Eras Tour is expected to bring more than 150,000 Swifties to BC Place over the three shows from December 6 to 8, and has resulted in more than 82,000 rooms booked across the region.
The tourism organization made the calculations together with BC Pavilion Corporation, which operates BC Place, and said 70 percent of direct spending would come 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 was not aware of the calculations, the numbers seemed realistic.
“Any time we have a significant move into the city of Vancouver, whether it's cruise ships or destination concerts like Taylor Swift, it's without a doubt helpful to the economy,” he said in an interview Tuesday.
Vaughan said signs of an economic boom can be seen in the way 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 Olympic Games and the Stanley Cup Finals.
“We see the impact of this being very real for business owners who are trying to assure Taylor Swift fans that they are operating in a way that not only supports them, but also gives them more opportunities to enjoy a Taylor-Swift-adjacent experience to the concert itself,” he said.
Destination Vancouver noted that fan events were planned across the city, including 13 Swift-themed lighting installations downtown, starting Friday and ending a week later on the day of the first show.
“Vancouver destination volunteers will be on hand to assist fans with directions and information during the concert weekend and to hand out special 'Vancouver' friendship bracelets,” the organization said in its press release.
The Vancouver dates that conclude Swift's two-year world tour come after six sold-out concerts at Toronto's Rogers Center that lasted two weeks and ended Saturday.
Destination Toronto estimated direct expenses at $152 million, which was expected to increase to $282 million as money continued to circulate.
The Eras Tour has reached five continents and will have almost 150 performances by the time it's over.
Mayor Ken Sim said in a news release about the economic impact that he was “thrilled” that Vancouver had been chosen to host the final stop on Swift's tour.
“This iconic event has not only captivated audiences around the world, it has also translated into a huge economic boost for every city it has visited, and Vancouver is no exception,” says Sim.
“Vancouver prides itself on being a world-class city, and hosting an event of this magnitude only strengthens our position as a top global destination.”
Destination Vancouver said BC charities have also “received a significant boost in the past month through donations of tickets and prize packages” through the BC Place Community Benefits Program, which auctions or raffles tickets to raise money.
© 2024 The Canadian Press
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