The superstar has six sold-out shows next month
The organization said the direct and indirect tax impacts of Swift’s shows on Nov. 14, 15, 16, 21, 22, and 23 are expected to generate nearly $40 million in tax revenue.
“These economic impact numbers show that Taylor Swift and the Eras Tour will have an enormously positive and significant economic impact on Toronto and our local economy,” Toronto Mayor Olivia Chow said in a statement. “Toronto is excited to welcome another major event this November that will contribute millions of dollars in direct spending and support local businesses and jobs.”
“The Eras Tour is a great example of the impact major events have on our destination,” Andrew Weir, CEO and president at Destination Toronto, added.
The organization notes that Swift’s concerts come at a time when business travel has started to slow down for the year and holiday leisure travel has not quite picked up.
In addition to Taylgate, several Swift-themed events and activities are planned across the city, including Taylor Swift Fan Night at the Bata Shoe Museum, a Taylor Swift Brunch at Patois, fundraiser TDOT SWIFT 4 CATS at the El Mocambo, ERAS! ERAS! ERAS! Presented by Choir! Choir! Choir! at Longboat Hall and more.
As of Sept. 29, the tourism group said hotel bookings for the Eras Tour dates in November are up by nearly 83% in the downtown area, year-over-year. Room bookings have also spiked by 36% outside of the core.
Swift’s Eras Tour, which kicked off in March 2023, has made headlines for not only being one of the hardest tickets to get, but for the amount of money it pumps into the local economies of the cities she plays.
But Swift’s economic impact also extended into other areas during her tour. The 14-time Grammy winner has made multiple food bank donations, handed out bonuses to people working on her tour, and this month wrote a cheque for $5 million to help victims of Helene and Milton after the two hurricanes tore through Florida and neighbouring states.
“She’s a brilliant business person and a musician. Boy, excuse the pun, but what a rock star; she is coming here and creating more jobs.”