Taylor Swift’s Eras Tour Could Boost Singapore’s GDP By Over $225 to $300 million, Report Says
Citing its survey of economists, Bloomberg reported Singapore’s gross domestic product (GDP) for the first quarter of 2024 is now projected to grow at 2.9%, while annual growth is expected to be 2.5%—up from earlier predictions of 2.3%.
On Friday evening, Swift will be performing the fifth show of her ongoing six-concert tour of Singapore—with each show drawing over 50,000 attendees.
Economists cited in the report noted the large influx of foreign tourists attending the concerts will add between $225 to $300 million (SGD 300-400 million) to Singapore’s economy in Q1.
Shortly after Swift announced her tour dates for Singapore last year, hotel bookings in the city-state surged 10% for March 2024, according to hotel analytics firm Smith Travel Research. The firm’s data also showed that Singapore’s hotel occupancy levels in early March will be significantly higher than any other period in the first eight months of 2024. Travel site Trip.com told CNN that sales for flights into Singapore between March 1 and 9 rose 186% due to Swift’s concert. Low-cost airline JetStar Asia told several news outlets that demand for flights from Bangkok, Manila and Jakarta to Singapore rose 20% during the same periods.
