Wonder how women are stimulating the economy this year? Just look at pop culture icons like Taylor Swift, Beyonce, and Barbie. According to Bloomberg, each show on Swift’s Eras Tour grossed around $13 million, earning her more than $300 million after just her first 22 concerts. Forbes magazine reports that Swift is on her way to beating Elton John’s world record, who grossed over $939 million on his farewell tour ticket sales. A survey company, QuestionPro, estimated that the Eras tour could generate up to $4.6 billion in consumer spending for the U.S. economy in total.
Artists coming into town for these concerts have great impacts on the communities as well. Stephanie Harkness, the marketing director for the Hilton Garden Inn Charlotte Uptown and Hampton Inn and Suites, said in an interview with WBTV News that: “we really appreciate Beyonce coming, especially in the middle of the week, it means a lot of good business for us, the restaurants and the city.” Besides for the costs of tickets and travel, people coming into town for these concerts means that they will be spending money on hotels, taxis, Uber/Lyft rides, restaurants, and other businesses.
The film ‘Barbie’, directed by Greta Gerwig and starring Margot Robbie, dominated the box office in its debut weekend, raking in $162 million at the domestic box office, according to CNN. The film was the biggest-ever debut for a female director. As of recent figures, Bank of America cardholders spent 13.2% more on entertainment than in the previous year, a huge jump from the week of July 15, when entertainment spending was only up 4.9%.
These increases in spending on entertainment are coupled with spending on things like merchandise and themed meals/treats at restaurants. Not only have women dominated the entertainment industry this year, but they’ve boosted the economy along with it.
