Taylor Swift is bringing more than great music and a fabulous stage show to Toronto next month.
Destination Toronto says more than $282 million in economic impact and more than $152 million in direct spending is expected during Taylor Swift | The Eras Tour presented by Rogers in Toronto through November 14, 15, 16, 21, 22, and 23. The estimated impact numbers released today by Destination Toronto highlight the significant benefit that comes from visitors travelling to the city for a concert, or for any major event or conference.
“The Eras Tour is a great example of the impact major events have on our destination,” said Andrew Weir, CEO & President at Destination Toronto, which markets the city to the world. “Whether it’s concerts like Taylor Swift, international meetings and conventions, or signature annual festivals like Pride, TIFF or Caribbean Carnival, events that draw visitors to our city also bring visitor spending that positively impacts our local economy and a wide range of businesses and jobs.”
Of the $152 million in direct spending, $141 million—nearly 93%—is estimated to come from out-of-town visitors and $11 million is estimated to come from local Swifties. The direct and indirect tax impacts of the string of six concerts are expected to generate nearly 40 million in tax revenue across all levels of government.
Toronto is Ready For It—Swiftmania will be sweeping Toronto at a critical time of year, when business travel is starting to wind down and holiday leisure travel has not quite picked up. The economic impact of the Eras Tour is expected to be felt throughout the city. As of September 29th, hotel bookings for Eras Tour dates in November are pacing ahead by nearly 83% per cent vs the same time last year in downtown Toronto. The increased demand is not isolated to the downtown core with hotels in the city overall also seeing demand pacing ahead by nearly 36%.
“These economic impact numbers show that Taylor Swift and the Eras Tour will have an enormously positive and significant economic impact on Toronto and our local economy,” said Olivia Chow, Mayor of Toronto. “Toronto is excited to welcome another major event this November that will contribute millions of dollars in direct spending and support local businesses and jobs.”
“We’re thrilled to help bring significant economic benefit to Toronto as the presenting sponsor of The Eras Tour,” said Tony Staffieri, President and CEO, Rogers. “It’s part of our larger commitment to reinvest 90% of our profits back into Canada – driving economic growth, connecting communities, and bringing Canadians the best entertainment and experiences.”
Approximately 240,000 concert-goers are expected to attend the Eras Tour shows and over 60,000 are expected to attend Toronto’s Version: Taylgate ‘24, the pre-concert event at the Metro Toronto Convention Centre. In addition to Taylgate, several Taylor Swift events and activities are planned across the city contributing to a citywide effect, like Taylor Swift Fan Night at the Bata Shoe Museum, a Taylor Swift Brunch at Patois, fundraiser TDOT SWIFT 4 CATS at the El Mocambo, ERAS! ERAS! ERAS! Presented by Choir! Choir! Choir! at Longboat Hall and more.
To encourage fans and visitors to explore deeper throughout the city, Destination Toronto has created a website: Taylor Swift in Toronto. The site includes a variety of Toronto and ‘Tayronto’ experiences to help Swifties become Enchanted with the city’s diverse food and arts scene, shop in Style, and check out Taylor-themed events for a Fortnight. The site will also soon include a fan scavenger hunt, Toronto (Taylor’s Version), featuring 13 Toronto clues tied to a Taylor Swift song, leading to iconic Toronto locations. Players will be eligible to win prizes, with a grand prize of a weekend stay in Toronto. QR codes placed in the vicinity of the Rogers Centre, along Taylor Swift Way and in other high-traffic areas throughout the city will link directly to the website.
Calculating the Impact
Concert ticket prices and airfare are not included in economic estimates, as these revenues are largely not retained in the local economy, while hotels, dining, shopping, entertainment, local transportation and Taylgate ticket prices are included. The estimates assume each attendee attends one concert date.
