Swift economics resulted in downtown Toronto spending up by 45%

Last updated: 2024/11/29 at 9:04 PM

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They came, they saw, they spent money.

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Swifties who flocked to Taylor Swift’s six-show run over 10 days at Rogers Centre resulted in downtown Toronto spending up 45% week over week, according to Moneris.

Although other events like Toronto Raptors and Maple Leafs games and the Wicked movie premiere also attracted spenders, Moneris says Swift’s six concerts on Nov. 14-16 and Nov. 21-23 marked the busiest days, with the highest activity on her fourth show, Nov. 21.

Clothing stores saw a 49% increase, and accessory/specialty stores surged by 102%, as fans likely shopped for Eras Tour-inspired outfits or souvenirs.

Cinemas experienced a 30% boost and theatrical productions a 130% increase possibly due to visitors catching more than just the concert.

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International spending rose by 48%, with U.S. travelers contributing to 83% of this foreign spend and hotel foreign spending was up 45%, leading to an overall hotel spending increase of 16%.

Restaurants saw a moderate 12% increase in spending during the tour, with international spending rising by 57% while bakeries saw a notable growth of 54% suggesting concertgoers preferred quick bites.

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“A big part of the economic impact is the spillover effect, where those in town spend on more than just the show itself,” said Sean McCormick, Moneris vice-president of business development, data services, in a statement.

“Moneris’ data shows a significant week-over-week increase in international spend across a variety of categories. Tourists extending their stay may have added shopping to their itinerary as spending at accessory stores more than doubled, and clothing stores were up over 80%. And when in town, why not catch more than one show? Movie theatres also saw as 67% increase in international spend week-over-week.”

Week-over-week data compared the 10-day period from Nov. 14 to Nov. 23, 2024, against Oct. 31 to Nov. 9, 2024.