Toronto will be seeing over $282 million in economic impact and over $152 million in direct spending during Taylor Swift's Eras Tour.
According to an estimation conducted by Destination Toronto, the direct spending on her performances will be more than $152 million — with $141 million of that coming from out-of-town visitors.
Out-of-town visitors will account for around 93 per cent of direct spending, while local attendees will contribute another $11 million, it added. The pop star’s performances are also expected to generate nearly $40 million in tax revenue across all levels of government.The Eras Tour will provide some economic relief in the tourism and hospitality industry as well.
This increased demand is not isolated to the downtown core as hotels citywide are pacing ahead by nearly 36 per cent, Destination Toronto said. Approximately 240,000 concertgoers are expected to attend the Eras Tour shows and more than 60,000 are expected to attend the “Taylgate” pre-concert event at the Metro Toronto Convention Centre. In addition to Taylgate, many other Taylor Swift events will be taking place across the city, which will contribute to visitor spending.
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