WASHINGTON — Taylor Swift's "Eras Tour" is leaving local economies with a "Lavender Haze."
The Federal Reserve Bank of Philadelphia released a report on Wednesday that credits the singer's shows with boosting hotel revenue in the city. The report was part of the central bank's Beige Book, which is published eight times a year and details the current economic conditions in different parts of the country.
"Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city," the Philadelphia Federal Reserve said in the report.
The 33-year-old singer had three shows at Lincoln Financial Field in Philadelphia in May.
Philadelphia isn't the only city feeling an economic boost from Swift's tour.
Tourism and marketing organization Choose Chicago highlighted Swift's impact on hotel bookings in early June.
The city saw over 44,000 hotel rooms occupied and $39 million in total hotel revenue due to Swift's shows and other events, according to the organization.
"Chicago set its new all-time record for total hotel rooms occupied! Thanks to three nights of Taylor Swift, the ASCO Annual Meeting, the James Beard Awards and more," the organization tweeted. "This isn’t just post-pandemic–we had more rooms filled than ever in Chicago’s history!"
Swift's tour stops in Cincinnati also boosted hotel occupancy, according to Visit Cincy.
A report by the marketing organization showed downtown hotel occupancy surged to 98% for June 30 and July 1 -- the same days as Swift's concert in the city's Paycor Stadium. Visit Cincy highlighted that there were other events, such as additional concerts and sport events, that also contributed to the boost in hotel revenue.
“Taylor Swift is a force to be reckoned with,” Julie Calvert President and CEO of Visit Cincy said in a statement. “The economic impact Swift creates is staggering, as fans travel from far and wide to attend her concerts, filling hotels, restaurants, and local attractions Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth."
Visit Cincy reports that more than $2.6 million was generated in hotel revenue for those two days alone.
Swift is wrapping up her 52-date U.S. tour, which is set to conclude with a string of Los Angeles shows in early August. Her international shows begin in Mexico City on Aug. 24. She's scheduled to do more international dates in 2024 including Japan, Australia, Singapore, France, the United Kingdom and more.
