Melbourne experienced a financial crescendo over the weekend of Fe. 16-18, as Taylor Swift’s concert series injected an estimated $174 million into the local economy, according to NAB.
NAB reported a 33% surge in spending compared to the previous month, with the city’s accommodation, hospitality, and tourism sectors reaping an $86 million windfall.
The vicinity of the Melbourne Cricket Ground (MCG) emerged as the prime beneficiary of this economic uplift:
Julie Rynski, NAB’s executive for business metro and specialised, highlighted the event’s broad economic impact.
“Taylor was certainly the cheer captain for businesses across the city. From sold-out hotels to bustling restaurants, the economic boost that follows is tangible,” Rynski said.
“The tour has attracted fans from across the world. And it’s not just about the event itself, but the entire experience – dining before a show, shopping for merchandise and exploring the city’s vibrant nightlife.
“We know many Australians have pulled back on discretionary spending, but this is the perfect example of Aussies saving their hard-earned cash for the things that matter to them.”
Georgia Chiarella, owner of The Confectionist, shared her firsthand experience of the Taylor mania. Her pop-up cookie shop in Richmond, strategically located near the MCG, sold out daily, offering Eras Tour-themed treats to the throngs of fans.
“We have our factory in Altona North that caters for our online store. We decided to open a weekend pop-up shop near Richmond Station selling Eras Tour themed cookies,” Chiarella said. “Each day was a sell-out.
“There was an exciting vibe in the air all weekend, we’ve even seen people hang around the area hoping to catch a glimpse of the singer.”
Swift’s tour schedule includes performances at Sydney’s Accor Stadium on Feb. 23, 24, 25, and 26.
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