Mastercard Economic Institute unpacks impact of Swift’s “Eras Tour” in Vancouver & T.O.

A new report on Swiftonomics – the economic influence of pop star Taylor Swift – is shedding light on the local impact The Eras Tour had on Toronto and Vancouver.

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, according to the Mastercard Economics Institute (MEI).

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 figures are based on spending involving Mastercard cards at restaurants with the same or adjacent postal code to the arena/stadium where Taylor Swift performed.

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, MEI reports.  

Regardless of whether they were from Vancouver, elsewhere in Canada or 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.

This is a relative increase in spend compared to the estimated level of spend in absence of the concert, MEI notes.

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