Taylor Swift’s ‘Eras Tour’ Is Boosting the Economy, Federal Reserve Says

Taylor Swift’s ‘Eras Tour’ Is Boosting the Economy, , Federal Reserve Says.

The Philadelphia Federal Reserve released its 'Beige Book' on July 12, 'Billboard' reports.

The report is released eight times annually and details the economic state of American cities.

The latest release indicates that hotels are being booked more than they have been in years due to Swift's fans.

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, Philadelphia officials, via statement.

Cincinnati also revealed that Swift has boosted its economy.

Taylor Swift is a force to be reckoned with, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via 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.

, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via statement.

Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via statement.

Chicago also says that it surpassed hotel occupancy records last month when Swift was in town, with hotel revenue amounting to $39 million during the first weekend of June