Taylor Swift's Eras Tour could give the UK economy a $1.2 billion boost

"Swiftonomics" is used to describe the economic influence of the musician, as fans flock to her shows around the world.

Taylor Swift's Eras Tour is set to provide a £997 million boost to the U.K. economy, according to Barclays, which predicts fans will spend an average £848 to see the singer. The bank also expects ticket-holders to splash out an average of £79 on official merchandise on the U.K. leg of the Eras Tour, which kicks off in June. That's along with £59 on a meal before the concert and an additional £216 on other costs, including drinks and vinyl records.

"When it comes to cultural icons like Taylor Swift – like we saw with Elvis and Beatlemania in the 50s and 60s – supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful," said Peter Brooks, a chief behavioral scientist at Barclays.

Source: Entertainment Trends (entertainmenttrends.net)

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