Genevieve Mylne (19 years old) was one of hundreds of thousands of spectators present at Taylor Swift’s concert in Melbourne (Australia). Mylne spent $1,760 on concert tickets, flights and room rentals to see Swift’s two concerts held in Melbourne and one concert held in Sydney.

“I definitely wouldn’t spend this much to go see any other artist’s tour. I only have strong feelings for Taylor Swift,” Mylne said.

Mylne is a student majoring in psychology, and she has a part-time job at a fitness center. Mylne has saved some money to be ready to spend heavily when Swift tours in Australia. In Australia, there are many young people like Mylne.

With a total of 7 shows held in two major Australian cities, starting on February 16 and ending on February 26, Taylor Swift’s Eras tour passing through Melbourne generated an expenditure of about 790 USD. million USD after 3 music nights. This number was given by the mayor of Melbourne – Ms. Sally Capp.

Bloomberg economic news (USA) analyzed: “The Eras tour through Australia will help this country witness a sudden increase in the number of airline ticket bookings and other types of travel. Demand is also sudden increase in accommodation services, restaurants, hotels… But there is one thing we must also reconsider, this story is not only about the sweet side.

In many countries, people are facing inflation, and the amount of people’s savings in many countries is at record lows. Therefore, spending heavily on music nights can cause the economy in a city or a country to have a short-term boost in spending, but in the long run, people will tighten their spending. other expenses, in other areas”.

Returning to the Eras tour’s ability to stimulate spending, Taylor Swift has caused the economies of many major cities around the world to witness a sudden increase in spending every time she stops to perform. This phenomenon has attracted the attention of the economic community to analyze and comment on in recent times and created the term “Swiftonomics” (roughly translated: Taylor Swift economic effect).

Currently, the service sectors in Sydney are eagerly awaiting Swift’s next series of 4 music nights taking place in this city. This is considered a rare major event taking place in Sydney with a lot of things to look forward to for the economy.

There will be about 320,000 fans present at Swift’s four music nights taking place in Sydney. About 35% of these fans are fans from other cities or other countries.

Mr. Michael Johnson – CEO of Accommodation Australia – an accommodation service provider in Australia, said that demand for booking rooms in Melbourne is 20% higher and in Sydney is 10% higher compared to the same period last year. Because of the sudden increase in demand, air ticket prices and accommodation service fees also increased.

Grasping the “Taylor Swift economic effect”, many countries have made efforts to bring the Eras tour to their countries to create a boost for the economy. Recently, Singapore became the only country in Southeast Asia to receive a nod of cooperation from Taylor Swift during her Eras tour.

Singapore was said to have offered an “offer” that could not be refused. Thailand and Singapore are two close competitors in the race to bring the Eras tour to Southeast Asia. In the end, Singapore won.

When appearing at the iBusiness Forum 2024 economic forum held in Bangkok (Thailand) recently, Thai Prime Minister Srettha Thavisin mentioned this story. He said a unit participating in the promotion process for the Eras tour provided information to help Thai authorities clearly understand the situation.

Singaporean authorities have proposed exclusive cooperation with female singer Taylor Swift. Singapore is said to have offered an extremely attractive offer, they are willing to pay a “remuneration” of 2 to 3 million USD for each concert that Swift performs on the island nation. death.

This negotiation was effective, Taylor Swift decided to stop in Singapore and organize 6 music nights here in early March. Currently, all 6 music nights are sold out. The series of music nights was held at Singapore National Stadium with a capacity of 55,000 spectators.

Thai Prime Minister Srettha Thavisin commented: “Singapore’s move is very quick. If Taylor Swift comes to perform in Thailand, I believe the cost of organizing a series of music nights will be reduced. Taylor Swift’s attraction will also help bring a large number of tourists to Thailand during the event.

Even though I have to spend a minimum amount of about 500 million baht to compete with Singapore’s proposal, I still find this worth it. If Thai authorities had known this information sooner, I believe we could have brought Taylor Swift’s concert series back to Thailand. Big music nights always have the ability to create added value for the economy.