I’ve known about #TaylorSwift longer than I’ve been in the workforce, so it’s been fascinating to read and learn about her impact on our economy.
For us at Geografia, Taylor Swift’s #ErasTour in Australia highlighted two key insights:
1️⃣ Major events can have a positive and highly localised impact on spending.
2️⃣ More interestingly, the urban fabric around event venues significantly influences the scale and size of this impact.
• Using Spendmapp data, we found that around the Melbourne Cricket Ground, the Taylor Swift concerts generated an increase in dining and entertainment spend of around $43 million. This is a 21% boost in typical spending.
• Around Accor Stadium in Sydney Olympic Park, spending increased by $15 million, or 27%.
• While Sydney saw a slightly higher percentage increase, Melbourne had a much bigger increase in actual dollars.
• We attribute the difference to the abundance of amenities (cafes, bars, and restaurants) within walking distance or easily accessible via public transport (trains and trams) from the event venue in Melbourne.
• Put simply, the urban fabric ensures that event-goers have plenty of options for things to do before or after the event, and can easily and safely get to and from the venue.
• This underscores the crucial role of precinct design in shaping urban experiences and maximising local economic opportunities.
As Taylor Swift describes nicely in her lyrics, capturing the essence of the urban experience 😉:
“Walkin’ through a crowd, the village is aglow
Kaleidoscope of loud heartbeats under coats
Everybody here wanted somethin’ more
Searchin’ for a sound we hadn’t heard before”
Feel free to reach out to me for access to our internal report.
