- Taylor Swift’s “Hellas Tour” caused hotel prices to rise in Portugal, Spain and Sweden, but not in France.
- Analysts said France’s large population and hotel capacity diluted the economic impact of Swift’s concert.
- Upcoming shows in the small European country could see higher accommodation prices and inflation.
Taylor Swift’s “Eraser Tour” has hit five European countries so far, with sold-out shows causing hotel prices to soar in every country except France.
Three of the four countries Swift visited in May saw monthly hotel rates increase this year compared with the previous three years, according to a report released Monday by BMI, an analytics subsidiary of Fitch Solutions.
Hotel prices in Portugal, Spain and Sweden in May were several times higher than the 2021-2023 average, but accommodation inflation fell in France. The researchers did not analyze trends in the UK this month.
BMI researchers say the difference is due to France’s larger population and larger hotel capacity than other tour destinations, which could dampen the impact of American pop star concerts.
The 290,000 people who attended the six shows in Paris and Lyon represent just 0.43% of the French population.
“France regularly hosts large events and has a highly developed tourism industry and airports, suggesting a strong capacity to accommodate large numbers of domestic and international visitors,” the researchers wrote in the report, just weeks before the start of the Summer Olympics in the country.
However, the report noted that Swift’s upcoming shows in the Netherlands, Ireland, Austria and Switzerland could drive up ticket prices, given that these countries all have populations of under 20 million. Swift’s current tour includes 51 shows in 18 European cities.
Eras’ tours have had a huge economic impact in other countries, with tens of thousands of fans attending concerts and spending big bucks on restaurants, accommodation and local attractions. Swifty travels for hours — and across borders — to attend concerts.
Swift played 53 shows in the U.S., and roughly 600 concert-goers surveyed by QuestionPro said they spent an average of $1,300. Swift has been mentioned during corporate earnings calls to explain increased demand, and the Federal Reserve Bank of Philadelphia has also highlighted record post-pandemic hotel demand in cities where Swift is visiting.
Analysts at MBI looked at US data and found that concert-goers can spend four times the price of a ticket, impacting inflation in the local economy. BMI reported that in Chicago, hotel occupancy rates for the Eras tour dates reached 96.8%, the highest on record for the city.
Fanfare is ringing around the world: Swift doesn’t perform in Italy until mid-July, but hotels in Milan are already booked up.
“Our analysis and data show that hotel rates for the nights when Taylor Swift plays Milan in July 2024 will be 45% higher on average than in the weeks before or after the show,” Ben Julius, founder of tourism company Tourist Italia, told Business Insider.
Earlier this year, the Singapore government controversially offered Swift subsidies of about $3 million per show to perform in the country, sparking a regional political row.
