How Taylor Swift’s “Eras Tour” is Shaking Off Economic Blues and Australia’s Real Estate

There’s no denying that I had heaps of fun writing Tay Tay’s blog last time. So, to celebrate the kick-off of the Eras Tour Australian Leg, I found it fitting to pen another piece. But this time, let’s deck the halls of the economy side of things (and real estate, of course) and look into how Taylor Swift’s sold-out tours impact it big time.   

The Swift Economic Renaissance Era

Hold onto your sparkly hats because Taylor Swift is about to turn Australia upside down! Over 620,000 tickets had been snatched up for Tay Tay’s Aussie shows, and just when you thought the party was over, a surprise release of more tickets hit on the 13th of February—cue the Swifties’ collective happy dance.

4one4 Property Co | The Eras Tour | Taylor Swift performs in front of a 96,000-strong crowd in Melbourne
Taylor Swift’s Eras Tour in front of a 96,000-strong crowd in Melbourne (Photo: Graham Denholm | People)

The City of Melbourne is not just preparing for concerts; they’re gearing up for a financial tornado. Because Taylor’s three-night extravaganza is predicted to inject over $1 billion into Melbourne’s economy. To put that in perspective, normally, the city rakes in about $3.3 billion from all its major events over an entire year. But wait for it—according to the wise words of Lord Mayor Sally Capp, Tay Tay is set to deliver a third of that economic boost in just one weekend. Talk about a swift economic shake-up! But You need to calm down, we’ve got the Sydney tour coming our way, too!

As Taylor Swift jets off to Sydney for the next leg of her Aussie tour, the harbour city is crossing its fingers for a cool $133 million windfall, courtesy of the Swift magic. That’s a whopping 28 per cent of what Sydney expects to rake in for the entire year’s visitor economy from major events, solidifying Taylor’s impact as a financial powerhouse and turning every event into a captivating Wildest Dreams moment.

Fits and Friendship Bracelets

Even before Taylor Swift’s arrival Down Under, fans were already swarming to snag official merchandise faster than August slipping away into a moment in time. And now that the Aussie leg has finally begun, more demand for these gears is anticipated.

One dedicated fan from Melbourne spilled the beans to ABC, admitting to spending a jaw-dropping $1,200 on all things Tay Tay. That’s right, $1,200! (Look what you made [us] do, Taylor). 

Aside from the tour’s official merch, Swifties are also purchasing outfits for the concert day which most of the time, represents the Era they love the most! Some even go to custom tailor shops just to achieve the look they want! Because, why not? It feels like a perfect night to dress up like hipsters, anyway!

Mind you, the Swift-induced chaos doesn’t stop there. 

4one4 Property Co | The Eras Tour | The famous friendship bracelets
The famous friendship bracelets (Photo: Jutharat Pinyodoonyachet | Boston Globe)

Fans are also on a mission to keep up with the latest friendship bracelet-swapping trend inspired by Taylor’s Midnights album. Craft shops are feeling the burning Red heat as fans rush to stock up on beads and bracelets, turning these humble stores into Swiftian treasure troves.

More Flights, More Fun

With only two lucky locations snagging coveted concert dates, fans are jetting in from every corner of the map to catch a glimpse of Taylor Swift’s magic. Enchanted by the prospect of the concert, Swifties are turning airports into buzzing hubs of excitement.

Qantas and Jetstar are basically the VIP airlines of this whole Swift spectacular thing, expecting a whopping 30 per cent surge in passengers flooding into Sydney and Melbourne during the concert period. Qantas, not wanting anyone to miss the Swift party, threw in more than 60 extra flights—that’s a whopping 11,000 seats—when the queen herself announced her Aussie escapade. And guess what? Demand was so high that this month, they had to add seven more flights to keep up. 

And nope, this ain’t just another summer thing because flights are sprouting like Taylor’s bridges, connecting Swifties from Brisbane to Sydney and from Perth, Auckland, and Brisbane to Melbourne. Qantas bookings skyrocketed by an eye-popping 1,500 per cent when tickets first hit the market compared to the same period the year before. Jetstar, not to be outdone, saw nearly 10,000 passengers booking flights the moment the concert news dropped, with a steady increase in bookings over the past eight months. Fearless in their pursuit of the ultimate concert experience, fans are ensuring they secure their spot in the crowd.

4one4 Property Co | The Eras Tour | Busy era for Australian airlines in preparation for Eras Tour
Airlines’ busiest era after pre-pandemic in preparation for Eras Tour (Photo: David Geraghty | NCA NewsWire |

Now, even though Brisbane missed out on hosting the Eras Tour, Swifties in the Sunshine State are not backing down. An estimated 25,400 people are set to turn Brisbane Airport into a temporary Swiftie hub, with passenger volumes expected to soar by 5 per cent around the concert days. It’s a full-blown airport takeover, complete with a ripple effect on connecting flights from regional Queensland hotspots like Cairns, Townsville, Mackay, and Rockhampton, bringing an extra 3,400 passengers along for the ride. Welcome to New York, or in this case, Brisbane, where the Swiftie spirit is alive and thriving.

Real Estate Impact

With fans flocking to Melbourne and Sydney, hotels are reaping the benefits and dancing close to full capacity, leaving the Australian Hotels Association stunned by the sheer magnitude of demand.

According to the association’s CEO, Michael Johnson, the demand is off the charts. He declared, “I’d say we have seen events in the past create similar levels of demand but not for a while.” Translation: Swifties are setting a new standard for hotel hype!

In Melbourne, the occupancy rates are predicted to soar past 90 per cent by Friday, marking a jaw-dropping 25 per cent increase compared to the same time last year. Meanwhile, Sydney is no slouch in the accommodation game, with rates comfortably sitting at about 86 per cent and expected to skyrocket to over 90 per cent once Taylor Swift graces the city with her presence.

Mr Johnson highlighted the impressive 5-10 per cent increase compared to the same time last year, all while throwing a nod to the fact that WorldPride was shaking things up in Sydney that weekend. He emphasised, “Events of this nature are just a huge demand driver for the hotels and the visitor economy. It’s more than just our industry … it’s the restaurants, the pubs, theatres, cafes, tourist attractions, everyone benefits.” The Swift effect is truly a spectacle, transforming cities into vibrant Wonderlands of excitement and hospitality.

4one4 Property Co | The Eras Tour | Impacts of The Eras Tour in Australian Real Estate and Economy
Long Story Short

Could you just imagine how Nice Things would be if the proposed $750 million stadium at Macquaire Point here in our very own Tassie is already built?!? With Taylor Swift possibly coming over, the Eras Tour, the economy boost, and the real estate demand?!? What a beautiful Love Story

Just think about the renowned artists and events this potential football stadium could attract to our Gorgeous little island in the future. The possibilities are boundless, and the economic boost could possibly mirror Taylor Swift’s impact on Melbourne and Sydney. Ready for it?

If you still need convincing about the impact of Taylor Swift, here’s a surprising turn of events that might astound every Aussie out there. Google searches over the past year reveal that the anticipation for Tay Tay’s MCG gig might just outshine even the traditional blockbuster event—the AFL Grand Final. That, mates, is how relevant Tay Tay Down Under is! 

So, as we look back on the Swift effect, let’s remember it as more than just a moment in time. It’s a “Long Live” anthem for Swifties and a wake-up call for economic resilience. So, for those who are attending the Eras Tour whether in Melbourne or Sydney, take the moment and taste it and just keep dancing like you’re 22