Why the Taylor Swift economy may not be real
Business Standard|June 28, 2024
Taylor Swift is taking Europe by storm, prompting some pundits to envisage an economic windfall as fans flock to dozens of sold-out shows from Dublin to Vienna and beyond.
Why the Taylor Swift economy may not be real

It is hoped Swift, along with the Olympics Games in France and the Euro 2024 soccer championship in Germany will provide a shot in the arm for a continent that has just skirted recession for most of the past two years and badly lagged the United States.

But there is one problem: "Swiftonomics" is not actually real.

She may be a megastar revolutionising the music industry, but once the excitement wears off, you will need a magnifying glass to spot the economic benefit.

Take Stockholm as a case in point. Close to 180,000 fans attended her three shows in May, with half of them coming from abroad and generating close to 850 million crowns ($81 million) in turnover for the city.

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