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's six Toronto concert dates will inject hundreds of millions of dollars into the city's economy.THE CANADIAN PRESS/AP-Photo by Scott A Garfitt/Invision/AP
TORONTO – A tourism organization is estimating Taylor Swift’s six Toronto concert dates will inject hundreds of millions of dollars into the city’s economy.
Destination Toronto says it expects $152 million in direct spending associated with the Eras Tour’s stint in the city next month, which it anticipates will grow into a $282 million economic impact as the money continues to circulate.
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’s economy, says Destination Toronto CEO Andrew Weir.
But one expert says the estimate doesn’t take into consideration the potential costs to taxpayers.
Joanne McNeish, who teaches marketing management at Toronto Metropolitan University, says additional garbage collection, added police presence for security and traffic rerouting – not to mention an uptick in crime associated with large gatherings of people – all cost the city money.
She says there’s undoubtedly a benefit to hosting these sorts of cultural events, but when times are tough financially and public services are being cut – as they are now – it’s worth asking questions about spending.
Swift’s 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.
This report by The Canadian Press was first published Oct. 15, 2024.
