New Data Reveals the Economic Impact of the Eras Tour in Vancouver and Toronto

Although The Eras Tour is over now, everything has changed in the cities and countries where Taylor Swift performed.

As we reminisce on the last leg of the tour in Canada, Mastercard Economics Institute has new insights measuring the economic impact of The Eras Tour in Toronto and Vancouver.

Key highlights include:  

Look What you Made Me Do – Swifties in Toronto Spent Big on Restaurants and Accommodations:

Excitement for the kick-off of the Canadian shows drew Swifties from around the country and the globe, contributing to a lift in spend at local hotels and restaurants and highlights the spending halo that The Eras Tour has created. Over the course of the concert dates in Toronto (Nov 14-24), spending at restaurants near the arena in Toronto increased by 31% compared to what spending levels would be if the event never occurred, while spending at hotels in Toronto rose by 45%.

The tour drew crowds from across the globe, leaving a real lasting legacy: 

As the reality that the Eras Tour was ending sunk in, Swifties were prepared to go the distance to say goodbye. Canadians have travelled around the globe to see Swift perform at various legs of her tour, and according to MEI data that analyzes inbound tourism spending at the location of the concerts, (spending in Toronto and Vancouver from cards issued outside of Canada), global travellers returned the favour, coming to Canada to witness her final shows:  

In Toronto, there was a 64% increase in spending at hotels and 90% increase in spending at restaurants near the arena from those who travelled from outside of Canada.

There was an even greater lift in spend from those travelling to Vancouver from outside Canada with a 130% increase in spending at hotels and 127% increase in spending at restaurants near the stadium from this cohort.

Head First, Fearless – Fans spent big for the final shows: 

Regardless of whether they were from Vancouver, elsewhere in Canada or even from other countries, Swifties contributed to a bigger lift in spend at Vancouver hotels and restaurants compared to those in Toronto. Vancouver hotels experienced a 109% increase in spending and restaurants near the stadium saw a 41% increase in spend during her final concert dates in December.

Using “synthetic control*” methodology, the Mastercard Economics Institute looked at how the economy would have performed if the concerts never happened and compared that to what really happened when the tour was in Toronto and Vancouver. All spending increases below are measured as the relative gain in spending as compared to what spending levels would be if the event never occurred.

The outcome: a unique measurement revealing the incremental boost in spending attributable to The Eras Tour for the last shows in Canada.