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Taylor Swift expected to inject 100s of millions into Toronto

Economic boost of pop star鈥檚 six shows could grow into a $282-million economic impact
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Taylor Swift performs at Wembley Stadium as part of her Eras Tour on Friday, June 21, 2024 in London. A tourism organization is estimating Swift鈥檚 six Toronto concert dates will inject hundreds of millions of dollars into the city鈥檚 economy.THE CANADIAN PRESS/AP-Photo by Scott A Garfitt/Invision/AP

Taylor Swift fans headed to Toronto for a run of six concerts next month are expected to bring with them hundreds of millions of dollars in local economic activity, according to new modelling from a tourism organization.

Destination Toronto CEO Andrew Weir said the non-profit is predicting $152 million in direct spending associated with Swift鈥檚 Eras Tour during the 10 days it鈥檚 in town, which the organization anticipates will grow into a $282-million economic impact as the money continues to circulate.

鈥淲e鈥檝e got 282 million reasons to be excited about Taylor Swift coming to the city,鈥 he said by phone on Tuesday. 鈥淭hat is, the economic impact that we鈥檝e now had a chance to calculate at least on a projection estimate basis is very, very significant.鈥

The model the organization used includes predictions about spending on hotels, dining, shopping and other local fare, but does not include the cost of airfare or the concert tickets themselves, as that money is unlikely to stay in the city鈥檚 economy.

Of the $152 million in direct spending, Destination Toronto said $141 million is estimated to come from out-of-town visitors and $11 million is estimated to come from local fans.

Weir said those calculations are based on what other cities have seen since Swift launched her record-breaking tour, including Denver, which released a study on the concerts鈥 economic impact.

Swift鈥檚 ability to drive economic activity is remarkable, Weir said.

Industry publication Pollstar reported late last year that Taylor Swift鈥檚 Eras Tour was the first tour to cross the billion-dollar mark, citing data pulled from box office reports, venue capacity estimates, historical Pollstar venue ticket sales data, and other undefined research, collected from Nov. 17, 2022 to Nov. 15, 2023.

Meanwhile, her blockbuster film adaptation of the tour, 鈥淭aylor Swift: The Eras Tour,鈥 has reportedly earned more than US$250 million in sales, making it the highest-grossing concert film of all time.

In Toronto, Swift is set to perform six nights at the Rogers Centre, for a combined audience of roughly 240,000, Destination Toronto said. More than 60,000 people are also expected to attend Toronto鈥檚 Version: Taylgate 鈥24, a pre-concert event at the nearby Metro Toronto Convention Centre.

Other events have also cropped up, from themed brunches to an event at the Bata Shoe Museum to a singalong hosted by Choir! Choir! Choir!

鈥淭hat money doesn鈥檛 stop working once those visitors get on a plane and go home again, because that money is new to our economy,鈥 Weir said. 鈥淚t didn鈥檛 start the day in our economy, but it ends the day there, and then continues to recirculate.鈥

But one expert said the estimate doesn鈥檛 take into consideration the potential costs to taxpayers.

Joanne McNeish, who teaches marketing management at Toronto Metropolitan University, said additional garbage collection, added police presence for security and traffic rerouting 鈥 not to mention an uptick in crime associated with large gatherings 鈥 all cost the city money.

鈥淭he economic impact, to me, it sounds like revenue,鈥 she said. 鈥淎nd companies always talk about revenue. You want your revenue to be growing. But if you鈥檙e not making a profit, you鈥檒l be out of business pretty quickly.鈥

She said there鈥檚 undoubtedly a benefit to hosting these sorts of cultural events, but when times are tough financially and public services are being cut 鈥 as they are now 鈥 it鈥檚 worth asking questions about spending.

Weir said the public costs associated with Swift鈥檚 Toronto stint remain to be seen, but he noted a tour stop is unlike other large events such as the Olympics or the World Cup, in which cities are obligated to spend a certain amount of money on infrastructure.

He also said Destination Toronto鈥檚 modelling predicts $40 million in taxes will be generated by the tour stop.

Spokespeople for City Hall and the Toronto Police Service did not immediately respond to requests for comment.

Swift鈥檚 Toronto run of concerts is set to begin Nov. 14 and will wrap up Nov. 23. Her second stop in Canada will be in Vancouver in December, where she鈥檒l close out the tour.





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