noticias
Taylor Swift's concert in Miami generated an economic impact of 80 million dollars.
Nov 7, 2024
The three-night concert of Taylor Swift's Eras tour in Miami generated tens of millions of dollars in economic activity last weekend.
Held at the Hard Rock Stadium from October 18 to 20, the event attracted around 350,000 attendees and contributed an estimated $75 to $80 million to the economy of South Florida, according to researchers from Visit Lauderdale, the tourism marketing agency of Broward County.
More than 70% of attendees traveled from outside South Florida, with visitors from all 50 states and the District of Columbia during the three nights, many of whom required lodging. About 51% of hotel bookings were in Miami-Dade County, and the remaining 49% in Broward County. The average time attendees spent at the Hard Rock Stadium was 4.5 hours.
“Part of the Greater Miami area's success as a tourist destination is our ability to attract diverse global events, such as Taylor Swift's concerts at the Hard Rock Stadium in Miami Gardens,” said Rolando Aedo, chief operating officer of the Greater Miami Convention & Visitors Bureau.
Estimated total attendance:
Friday: 112,000
Saturday: 131,000
Sunday: 120,000
Visitors spent approximately $44.6 million on accommodation in Miami-Dade and Broward. Researchers also estimate that fans spent $11 million on food and beverages, $7.5 million on business services, and $5.4 million on retail purchases.
“We witnessed this firsthand as our stores transformed into a Swiftie destination before her concerts in Miami,” said Carlos Limontes, general manager of The Shops at Merrick Park in Coral Gables. “Our retailers reported a significant increase in shoppers and sales in search of concert outfits, and the demand was so extraordinary that we launched a Taylor Swift-inspired creator market.”
Other significant spending categories include transportation ($4 million), recreation ($2.2 million), and venue rentals ($1.8 million).
Florida attendees represented a significant portion of the concert audience. The majority came from the Miami-Fort Lauderdale area, which accounted for 21.6% of visitors. West Palm Beach-Fort Pierce followed with 8.3%, while Orlando-Daytona Beach-Melbourne contributed 7.2%. Tampa-St. Pete (Sarasota) made up 6.1% of attendees, while Jacksonville and Ft. Myers-Naples added 2.9% and 2.6%, respectively.
Outside of Florida, New York led with 5.8% of attendees, followed by North Carolina with 4.5% and New Jersey with 3.4%. Pennsylvania and Virginia represented 3.3% and 3%, while Massachusetts also made up 3%. Georgia, California, and South Carolina rounded out the list with 2.9%, 2.7%, and 2.3%, respectively.
Swift's representatives did not immediately respond to Business Journal's request for comments.
“The demographic profile of Taylor Swift's fans tends to be very loyal and purchases a large amount of merchandise. Her target fan group is primarily pre-teen and teenage girls, who often insist on having their parents take them to the concerts,” said Baruch Labunski, CEO of Rank Secure, a digital analytics firm based in Toronto. “Swift has been active for nearly 20 years, so those teenagers who were her first fans are now mothers, many with pre-teen and teenage daughters. She is enjoying the effect of the second generation of fans, with women sharing the love for Swift with their daughters. It’s a self-sustaining entertainment machine.”