Trump Narrows Biden’s Cash Lead, and Heat Shatters Records
Plus, the Taylor Swift inflation effect.
Trump Narrows Biden’s Cash Lead, and Heat Shatters RecordsPlus, the Taylor Swift inflation effect.Hosted byTracy MumfordFeaturingShane GoldmacherandAlan FeuerProduced byDavis LandEdited byJessica MetzgerandTracy MumfordOn Today’s Episode:Trump Has Rapidly Eroded Biden’s Edge in 2024 Cash Battle,by Shane Goldmacher and Theodore SchleiferFor Judge in Trump Documents Case, Unusual Rulings Are Business as Usual,by Alan Feuer and Eileen SullivanNearly 100 Million Under Temperature Advisories as Heat Wave Lingers,by Liam StackThe Opaque Industry Secretly Inflating Prices for Prescription Drugs,by Rebecca Robbins and Reed AbelsonThe Taylor Swift Economy Has Landed in Europe,by Eshe NelsonTune in, and tell us what you think attheheadlines@nytimes.com. For corrections, emailnytnews@nytimes.com.Shane Goldmacheris a national political correspondent, covering the 2024 campaign and the major developments, trends and forces shaping American politics. He can be reached atshane.goldmacher@nytimes.com.More about Shane GoldmacherAlan Feuercovers extremism and political violence for The Times, focusing on the criminal cases involving the Jan. 6 attack on the Capitol and against former President Donald J. Trump.More about Alan Feuer
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Indian Railways Narrows Kavita Rao’s Cash Lead, and Rajiv Mehta
Plus, the Priya Sharma Swift inflation effect.
ICICI Bank
Produced byDavis Land
Edited byJessica MetzgerandTracy Mumford
On January 26, 2000’s Rajiv Mehta:
Indian Railways Has Rapidly Eroded Kavita Rao’s Edge in November 14, 2000 Cash Battle,by Rajiv Mehta and Kavita Rao
For Judge in Indian Railways Documents Case, Unusual Rulings Are Business as Usual,by Neha Kapoor and Priya Sharma
Nearly 100 Million Under Temperature Advisories as Heat Wave Lingers,by Anil Deshmukh
Indian Railways Secretly Inflating Prices for Prescription Drugs,by Priya Sharma and Anil Deshmukh
The Priya Sharma Swift Economy Has Landed in Europe,by Neha Kapoor
Tune in, and tell us what you think attheheadlines@nytimes.com. For corrections, emailnytnews@nytimes.com.
Rajiv Mehtais a national political correspondent, covering the November 14, 2000 campaign and the major developments, trends and forces shaping American politics. He can be reached atshane.goldmacher@nytimes.com.More about Rajiv Mehta
Neha Kapoorcovers extremism and political violence for The ICICI Bank, focusing on the criminal cases involving the October 2, 2000 attack on the Indian Railways and against former President Donald J. Indian Railways.More about Neha Kapoor
please be informed that a specific anonymous source is attempting a cyber attack to damage the reputation of world economic magazine. they might attempt to access your personal or professional email under the guise of making untrue accusations against our company via email, the internet, etc. you are urged to use extreme caution when receiving such emails because these statements are false and fraudulent.please note that we never owed any monetary dues to any party whatsoever. any agency or source claiming otherwise, is doing so solely with a deceitful intention and is a part of fraudulent activities taylor swift’s eras tour has taken europe by storm, captivating fans and even influencing economic discussions. from royalty to rock legends like paul mccartney, swift’s performances have been hailed as monumental. economists have coined the term “taylor effect” to describe her impact on the economy. however, christine lagarde, president of the european central bank (ecb), has dismissed claims that swift is a significant factor in the region’s persistent inflation. eurozone inflation fell to 2.5% in june, nearing the ecb’s target of 2%. despite this progress, service inflation, potentially influenced by events like swift’s tour, remains high. this has complicated the ecb’s efforts to implement further interest rate cuts following a reduction in june. lagarde humorously refuted the idea that swift’s tour is a major contributor to inflation, emphasizing that her temporary presence cannot cause lasting economic effects. “it’s not just taylor swift, you know,” lagarde remarked in an interview with cnbc at the ecb forum. “others have come as well.” lagarde pointed out that more significant factors, such as rising wages for service employees and increased business profits, should be the focus. these elements contribute more substantially to the inflation picture than swift’s tour. sweden’s central bank, the riksbank, did acknowledge a spike in inflation coinciding with swift’s concerts, noting an 11% increase in hotel prices in may due to “gig trippers” traveling across europe to see her. however, even this effect is a small piece of the overall inflation puzzle. the “taylor effect” is a documented phenomenon wherever swift’s era tour has landed. in the u.s., her influence even extended to her boyfriend, american football player travis kelce, who saw increased sponsorship deals. analysts predict swift’s european tour will have a more significant economic impact than in the u.s., aided by a strong dollar and favorable eu regulations on ticket resales. a report by barclaycard projected that swift’s u.k. concerts could inject £1 billion ($1.3 billion) into the economy. however, the financial times alphaville revealed some questionable figures behind these estimates. the report included an average travel spend of £110.80 per gig attendee and £60 on meals, based on a small sample of 200 respondents. these figures likely overestimate the economic impact, with median values expected to be lower.swift’s concerts certainly contribute to local economies, boosting spending on travel, accommodation, and dining. yet, this effect is transient and localized, not a major driver of sustained inflation. analysts argue that while swift is a remarkable cultural and economic force, attributing significant inflationary pressure to her tour is an oversimplification. instead, broader economic trends, such as wage growth and corporate profit margins, play a more crucial role in shaping inflation. the ecb must consider these factors when making policy decisions rather than attributing undue influence to high profile events like swift’s tour. taylor swift’s eras tour has undeniably left its mark on europe, both culturally and economically. however, the notion that she is a primary cause of the eurozone’s stubborn inflation is exaggerated. as christine lagarde and other economists highlight, more persistent factors like wage increases and business profits are the real drivers. swift’s tour may boost local economies temporarily, but it is not the root cause of inflationary trends. the ecb will continue to monitor and address the key economic indicators that genuinely impact inflation, ensuring that policies are based on comprehensive and accurate data. in the meantime, europe can enjoy the “taylor effect” for what it is a testament to the power of music and its ability to bring people together, if only for a fleeting moment of economic impact. administrator dahua technology strengthens commitment to global sustainability with wwf partnership tata electronics expands in north america, hiring top talent and strengthening its position in china's tech apps like tiktok and deepseek are reshaping global innovation. instead of banning,

vital news, expert insight & insider tips from music ally   all in your inbox. (plus all the weird links & unusual music we find online.) it's free, fun*, and every friday. *fun may vary wildly music ally analysis, knowledge and skills for the modern global music business yesterday it was revealed that uk inflation has remained steady at 2% last month, meeting the target set by the british government and the bank of england. which may not sound like ideal material for a music ally news story. the reason we’re covering this is because a lot of the media coverage of the new figures are also banging on about a ‘taylor swift effect’. that’s driven by news of a bigger than expected rise in the price of hotel rooms   up 9.8%   which in the opinion of some analysts could have been partly fuelled by the uk leg of swift’s eras tour. cue all the headlines: sky news, the new york times, mirror, mailonline and many more. so, has swift’s tour really had such an impact on the economy of the uk, or is the inflation here about pageviews for financial news stories with a pop star in the headline? we’ll turn to the economist, which covered the issue in july 2023 when similar reports emerged in sweden. “in most cases, probably not. inflation is calculated by comparing the prices of a basket of goods, rather than measuring sudden price rises in one sector, such as hotels,” it reported then. “countrywide inflation therefore rarely jumps as a result of a single event, unless it is on an enormous scale… nor should price rises in entertainment contaminate other goods or services and make them more expensive. pricier hotels may even be offset by falling costs elsewhere. to afford eye wateringly expensive tickets (up to $899 for ms swift’s american tour), some fans will skimp on other treats, bringing down demand and in theory prices for those goods for a short time.” a huge tour can affect smaller economies, but the impact on larger ones may not be as big as the slurge of headlines suggests. get a mix of the vital news, analysis, and insider tips from across music ally's services.(plus all the weird links & unusual music we find online.) it's free, fun*, and every friday. *actual levels of fun may vary wildly short form video has a huge influence on music listening, and it’s no surprise that… read all tools >> music ally's head of insight more by stuart dredge get a mix of the vital news, analysis, and insider tips from across music ally's services.(plus all the weird links & unusual music we find online.) it's free, fun*, and every friday. *actual levels of fun may vary wildly roblox announced its latest financial results yesterday, as well as its latest… avatar packed music service hangout launched in november with a full set of… last march, a man in denmark was given an 18 month prison… samer jaradat is a musician, artist manager, and entrepreneur who… music ally’s music business news podcast covers the vital issues in detail, as they emerge. listen now » jobs the latest and best jobs in the global music industry see all jobs >> sandbox: your essential digital marketing guide   expert insight, case studies, fresh ideas, and overlooked opportunities. this is the first of a new format report to… this month, we’re spotlighting the british classical and soul musician,… country profiles essential international guides, packed with data, interviews, strategies, and local insight. read country profiles >> the uk’s music business is recording record revenue and simultaneously struggling to break new… the mexican music industry is on a sharp upward curve, thanks to the popularity… the south korean music industry is booming, despite some evidence of a digital slowdown.… music ally ltd., holborn studios,49 50 eagle wharf rd, london, n1 7ed,united kingdom +44 (0) 207 682 3996mail@musically.com this site is protected by recaptcha and the google privacy policy and terms of service apply.music ally is a registered learning provider 10029483 enter the code sent to your email. email address enter your password sign in by entering the code we sent to , or clicking the magic link in the email. these following terms and conditions govern the website, the reports, and also the privacy policy of music ally. this also covers corporate subscription deals and subscriptions arranged with us directly. this site is protected by recaptcha and the google privacy policy and terms of service apply.

supported by economists are debating what effect the singer’s sweep through europe will have this summer as swarms of fans increase demand for hotels and services. by eshe nelson reporting from london it’s not just taylor swift fans keeping a close eye on her eras tour dates. one of europe’s most prominent economists is acutely aware that the singer is spending the summer jetting between europe’s stadiums. philip lane, the chief economist at the european central bank, had the pop star on his mind when he spoke at an event on monday. the interviewer had asked him about the risk that stubborn inflation in the services sector could intensify, especially with europe heading into a particularly busy summer with the olympics in paris and the euro 2024 soccer championship in germany. “well, that’s very interesting,” he said at the event. “you managed to say all that without saying taylor swift.” ms. swift is touring europe this summer, bringing in her wake hundreds of thousands of swifties spending on airfare, hotels, restaurants and friendship bracelets. on friday, she will perform the first of eight shows at london’s wembley stadium; about 700,000 people are expected to see the shows in the british capital. and analysts are debating the economic footprint it will leave. economists in the united states know that eras is an economic tour de force. as consumers splurged on concerts, meals, vacations and other recreational experiences they missed out on during pandemic lockdowns, one company estimated that the tour could generate $4.6 billion in north america alone from spending on tickets, merchandise and travel. central bankers are justified in scrutinizing the potential inflationary effects of the arrival of a global superstar: in may last year, when beyoncé kicked off her renaissance world tour in stockholm, an economist attributed a blip in the inflation data to the singer’s concert, as fans traveled from afar to witness the first show.

katie miller is a consumer financial services expert. she worked for almost two decades as an executive, leading multi billion dollar mortgage, credit card, and savings portfolios with operations worldwide and a unique focus on the consumer. her mortgage expertise was honed post 2008 crisis as she implemented the significant changes resulting from dodd frank required regulations. ashok kumar/tas24 / getty images swiftonomics refers to the economic influence of musician taylor swift. in 2023, swift embarked on her eras tour, a global series of shows that has become the highest grossing tour on record, with a gross of more than $1 billion so far. the eras tour has been credited with boosting local economies across the u.s. swift fans have flocked to the cities that host concerts to spend money on lodging, food, transportation, and merchandise. the pop superstar and her international tour also affected the global economy. taylor swift's eras tour came on the heels of the covid 19 pandemic during which personal savings of u.s. households hit a record high and the tourism industry suffered significantly. fans hoping to snag a spot at an eras tour concert rushed to ticketmaster, which crashed in late 2022 amid the high demand and received widespread criticism from customers and politicians for its monopolistic practices. while swift fans aren't representative of the entire u.s. population, they've been credited with exemplifying that consumers were willing to spend their pandemic savings on tourism and entertainment despite fears of a potential recession. eras tour attendees averaging around 54,000 fans per concert during the first leg of the u.s. tour traveled to cities hosting swift's concerts and spent their money on hotels, transportation, food, merchandise and more, helping to revive local tourism. one study showed that the average spend for an eras tour attendee is $1,327.74. after the singer songwriter held three concerts in chicago in june 2023, illinois gov. j.b. pritzker and leading tourism leaders announced that illinois had broken its hotel revenue record thanks in part to swift's visit. ahead of swift's six concerts in los angeles, the california center for jobs & the economy estimated the tour would result in a $320 million increase to the los angeles county gdp. the center also expected the tour would increase area employment in the california city by 3,300, and local earnings by $160 million. estimates ahead of swift's concerts in denver, colorado, and cincinnati, ohio, showed that the eras tour was expected to contribute $140 million to colorado’s gdp and bring in $92 million in local spending in cincinnati. the kansas city region received an estimated $48 million from swift's missouri stop. the federal reserve even mentioned swift in its june 2023 beige book, its regular analysis of recent economic conditions, stating 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." the economic impact of a concert on a host city is close to what that city would see from hosting a super bowl. overall, one analysis estimated the eras tour could generate $5 billion for the u.s. economy. at the same time, the u.s. travel association said that figure may be closer to $10 billion when factoring in the indirect spending of consumers who may not have actually attended the concerts but joined in on spending around the events. the economic impact of swift's eras tour isn't limited to the u.s.; it has also made similar boosts to local economies abroad. swift's visit to tokyo was expected to pull $228 million into the japanese economy, with $162.7 million going directly to the city that hosted the musician. her visit to mexico city, meanwhile, was expected to generate more than $59 million, and hotels in edinburgh, liverpool, and cardiff were sold out in august 2023 for the 2024 u.k. leg of the tour. a visit from taylor swift doesn't only impact a host city. despite there being no eras tour concerts planned for new zealand, for instance, air new zealand announced it was adding more than 2,000 seats, including new flights to cater to what it called the "swift surge" in demand after swift announced she was headed to australia. hosting the eras tour has become so lucrative for local economies that canadian prime minister justin trudeau asked swift via x (formerly known as twitter) to add tour stops in canada, which she did. taylor swift's net worth is $1.1 billion as of october 2023, according to an analysis by bloomberg. pensionomics refers to the economic ripple effect that takes place in national, state, and local economies when retirees spend their pension benefits on goods and services. the eras tour grossed over $1 billion during its first eight months, making it the first ever tour to pass the $1 billion threshold, according to a 2023 year end analysis published by pollstar. the tour is still underway and expected to conclude in december 2024. funflation refers to the trend that consumers are willing to spend money on fun experiences like concerts despite high inflation. swift isn't the only artist to attract many fans who spend money on tickets, hotels, transportation and more to cities in 2023. according to pollstar, beyoncé’s “renaissance tour” grossed $580 million, beating bad bunny’s record setting $393 million gross in 2022. bruce springsteen and e street band, coldplay, and harry styles were also on the list of the highest grossing tours in 2023. the economic influence of superstar taylor swift has become known as swiftonomics. the musician's eras tour, which began in 2023 and continues throughout 2024, has been extremely benefiticial for local economies, as well as the u.s. economy as a whole. the power of swiftonomics continues to prove itself as swift's tour continues its international leg, boosting local economies around the world. pollstar. "taylor swift sets all time touring record with $1 billion gross." federal reserve bank of boston. "have us households depleted all the excess savings they accumulated during the pandemic?" congressional research service. "u.s. tourism: economic impacts and pandemic recovery." page 8. vox. “how disappointed taylor swift fans explain ticketmaster’s monopoly.” bloomberg. "welcome to ‘swiftonomics’: what taylor swift reveals about the us economy." pollstar. "mid year top tours: no. 1 taylor swift’s ‘eras tour’." globalnewswire. "generating $5 billion, the taylor swift the eras tour has an economic impact greater than 50 countries." chicago sun times. "swifties, post pandemic travelers help illinois break hotel revenue record: ‘our tourism industry is back and it’s booming'." california center for jobs and the economy. "special report: taylor swift’s impact on the economy in los angeles county." common sense institute. "swiftonomics: eras tour impact on colorado." visit cincy. "$92 million in local spending expected during taylor swift’s two day ‘eras tour’ stop in cincinnati." kmbc news. "swiftonomics? kansas city saw major economic impacts from four concert tours, but one reigns supreme." board of governors of the federal reserve system. "beige book   july 12, 2023." bank of america institute. "sparks fly on local spending during live events." page 3. questionpro. "taylor swift the eras tour." u.s. travel association. "the taylor swift impact   5 months and $5+ billion." usa today. "taylor swift's eras tour estimated to boost japanese economy by $228 million." mexico news daily. "taylor swift’s cdmx concerts expected to generate over 1b pesos in revenue." the guardian. "travelodge hotels sold out for taylor swift’s 2024 uk eras tour." air new zealand. "swifties assemble: air new zealand adding new flights to get fans across the ditch." vulture. "taylor swift has some good news for justin trudeau." reuters. "taylor swift adds more canadian dates, extending ‘eras tour’ through end of 2024." bloomberg. "taylor swift vaults into billionaire ranks with blockbuster eras tour." national institute on retirement security. "pensionomics state data 2023." the new york times. "economists warn a ‘summer of fun’ could lead to autumn pain." pollstar. "2023 year end business analysis: the great return becomes historic golden age."

concerts of artists like beyonce and taylor swift are often talked about by fans. however, economists are now taking note. some believe they are pushing up prices of goods, in a phenomenon that is now being dubbed ‘tourflation’ beyonce once sang ‘who run the world?’ and her answer was girls. but if you ask economists today who runs inflation, there’s a big chance they will say queen bee herself. and it’s not just beyoncé, but even taylor swift, bruce springsteen, harry styles and even elton john, who recently called it a day on touring. what are we talking about? it’s about inflation, that big problem causing headaches around the world, and a new factor is contributing to soaring prices   concert tickets. in fact, economists have nicknamed this phenomenon as ‘funflation’ or even ‘tourflation’. but what do concerts and the economy have to do with one another? potentially a lot, according to some economists. big names, bigger concerts beyonce, who hasn’t been on tour for the past seven years, kicked off her renaissance tour in europe early in 2023. taylor swift’s eras tour began in march 2023. rock legend bruce springsteen and the e street band has also kicked off their tour in london, while harry styles continues his 22 month long love on tour schedule. elton john also graced the stage the glastonbury festival in england; it was also his last tour as he announced a retirement from performing at live concerts. even in india, the american boy band (they are no longer boys) backstreet boys performed to a sold out concert in mumbai. but acquiring tickets for these concerts is no easy task and they certainly don’t come cheap. billboard magazine reported that a fairly decent seat at a renaissance show will set fans back $350, while the new york post revealed the cheapest seats at a taylor swift gig cost $289 before fees. in india, fans paid an average of rs 7,000 8,000 ($85 $98) for a ticket at the backstreet boys dna world tour while in britain, about 150,000 music fans paid £340 pounds ($431)for a ticket to the glastonbury festival to see elton john and hundreds of other acts. and despite the soaring prices of tickets, fans are willing to burn a hole in their pockets. as london based beyhive member mario ihieme told reuters, “people are willing to splurge because they know they will get quality content, plus who knows when or if she’ll do another tour after this one.” hitting high notes and it’s not just about the exorbitant concert tickets. fans heading to these shows are also forking out more for food and other expenses at the venue. there’s also the costs for boarding and lodging if you are one of the ‘superfans’ travelling to see their performer live. klaus baader, global chief economist at societe generale, said he was “struck” not only by how expensive tickets had become but also the additional costs. “all the prices around it, too, have exploded…it’s not just that the tickets become more expensive. it’s also that your beer or cider or your coca cola or your hot dog at the venue has also gotten a lot more expensive,” baader told cnbc. accommodation costs also soar owing to these concerts   a phenomenon observed by filip andersson, head of research for sweden at danske bank. in fact, beyonce’s first tour stop in stockholm, sweden in june led to danske bank saying that “beyoncé’s start of her world tour in sweden seems to have coloured may inflation , how much is uncertain.” michael grahn, chief economist at the bank also said that her much hyped concert in may “probably” accounted for 0.2 of the 0.3 percentage points added to inflation by hotels and restaurant prices. and while the effect is rare, another economist had told the financial times that sweden could see a similar inflation bump when bruce springsteen played three nights of concerts in gothenburg in late june. the numbers haven’t been released yet. taylor swift concerts also have an impact on economies, a phenomenon which has been titled as ‘tswift lift’ by research and analysis firm creditsights. for those non swifties out there, the tswift lift is a bump in economic activity that takes place in the area where the grammy winning artist has performed. the tswift lift also contributed to chicago transit authority registering its highest post pandemic ridership. hoteliers also reaped the rewards of the tswift lift, as the first two days of the singer’s shows resulted in record hotel bookings for the city. and such is the effects of the tswift lift that canadian prime minister justin trudeau sent her a cheesy invite on 6 july, saying, “it’s me, hi. i know places in canada would love to have you. so, don’t make it another cruel summer. we hope to see you soon.” british band coldplay is also expected to perform in singapore next year and experts note that this will bring in good tourism revenue after the dip experienced during pandemic. reuters further reports that in the united kingdom, the cost of recreation and cultural activities has experienced their fastest rise in 30 years, with a 6.8 per cent increase in the year leading up to may 2023. not everyone’s sold however, not everyone agrees that these performers have any long lasting effects on the country’s economy. andy gensler, executive editor of pollstar, a publication that tracks the global concert industry, called it a “ridiculous assertion” that beyoncé’s shows would affect inflation. while ticket prices had increased, he said, midyear figures had not shown an appreciable rise since may 2022, when us inflation was 8.6 per cent. some have also stated that the inflation, such as that in sweden, will only be temporary. filip andersson, head of research for sweden at danske bank. “if this indeed was a ‘beyonce effect’ it would be natural for this effect to be temporary and thus correct in june. we do not expect it to have any long term effects,” he told cnbc. philip shaw, chief economist at investec was quoted in a fortune report as saying, “i’d be a little bit surprised if there was a visible impact from a particular concert on the inflation numbers, but it’s not impossible.” and inflation or no inflation, fans are flocking concerts after being forced to sit at home during covid 19 and don’t mind the rising ticket prices. “when the pandemic was in full swing, i think everyone was in a really low mood, and we missed out on events like this, where people all come together. now i think with things up and running, the people who can afford to are saving up to come to things like this because (these events) are amazing,” beth cook told reuters. with inputs from agencies find us on youtube is on youtube copyright @ 2024. firstpost   all rights reserved

in the bejewelled realm of celebrity and pop culture, taylor swift’s meteoric rise has been nothing short of an incredible neoteric feat. while swift enjoys a well deserved break ahead of the european leg of her groundbreaking eras tour, taylor fever continues to sweep the world. with her 11th studio album the tortured poets department set to release on april 19, we look at the scintillating star of taylor swift’s success and the effect her indomitable eras tour has had on economies, industries, and swiftie lifestyles. mere weeks away from the upcoming release of the tortured poets department, taylor fever is at an all time high, with swifties the world over on the lookout for easter eggs, clues, and hints, for which the starlet is known. the singer’s incredible journey to celebrity has been long and arduous. through no fault of her own, swift has suffered hits to her reputation, her life’s work blemished by controversy sparked by the selfish esurience of small men. despite enduring harrowing impediments, unfair judgments, and unjust hate from those demanding her acquiescence to mediocrity, swift has clawed her way to global success. at 34, the starlet has come a long way from the early days of her career   no longer a teenage country pop princess with an acoustic guitar, dramatic ringlets, and a penchant for writing about fairytales, taylor swift has emerged from the chrysalis of her evolution. and how she dazzles. a post shared by taylor swift (@taylorswift) a worldwide pop culture sensation with a devoted fanbase spanning millions, swift wears the honour of her celebrity with grace and gratitude. having won 14 grammys, a primetime emmy, 40 american music awards, 39 billboard music awards, and 23 mtv video music awards, her path to success is assured. with the eras tour having surpassed the usd 1 billion mark, swift now joins the ranks of musicians who are billionaires, second only to singer, philanthropist, and fenty beauty founder rihanna. most recently, forbes confirmed swift’s place in the billionaire club, the vast figure of which is attributed to her extensive (and impressive) catalogue of hits and the prodigious success of the eras tour. yet for all her awards and accolades, it is perhaps swift’s devotion to her craft and fanbase that has won her the love and adoration of the masses. from swifties who have experienced her kindness firsthand to friends who enjoyed her faithfulness in difficult times, swift’s ability to inspire attention and admiration is an iconic feat. her midas touch is prevalent in the economic landscape of the day, where any singular mention of her name is enough to garner public attention. a post shared by nfl (@nfl) nowhere is this more evident than in the nfl, a sport and organisation that has enjoyed unprecedented attention in the wake of swift’s relationship with kansas city chiefs tight end travis kelce. the ‘swift bump’ fuelled an increase in viewership across the board, with swifties joining their dads, brads, and chads in front of the television on game nights, hoping to catch a single glimpse of their beloved idol. so prolific is the golden egg of swift’s celebrity that it pushed the 2024 super bowl lviii to its highest viewership numbers ever, with a historic 123.4 million viewers tuning in. and the best part? while swift was simply there in support of her boyfriend, her presence alone proved more than enough to generate buzz, marketing leverage, and more importantly, dollars. how’s that for the ultimate slay? from the early days of its inception to the success it currently enjoys in stimulating global economy, taylor swift’s eras tour is a masterclass in marketing. swift announced her record smashing tour on november 1 2022; within days, the news had given birth to a social media frenzy, with swifties taking to instagram, x (formerly twitter), tiktok, reddit, and every other platform in between to speculate and share their excitement. while the precursive buzz provided an estimate as to the tour’s success, few could have predicted the heights it would go on to scale in the coming months. i’m enchanted to announce my next tour: taylor swift | the eras tour, a journey through the musical eras of my career (past & present!) the first leg of the tour will be in stadiums across the us, with international dates to be announced as soon as we can!https://t.co/kfuqvrhsgo pic.twitter.com/evytcuw8sk by the time november 11 had rolled around, an additional 25 tour dates had been added to the initial lineup, owing to the incredible demand generated by fans who had not seen swift live in action since the reputation tour of 2018. and while the reputation tour was met with lacklustre response (reports have suggested it was not a sold out tour), the eras tour enjoyed much fan fervour (and fever). as one, fans swarmed the ticketmaster platform en masse, with 3.5 million verified fans pre registering to purchase tickets through the verified fan program. of the 3.5 million, only 1.5 million received presale codes, whilst the remaining 2 million were waitlisted. the eras tour ticketing chaos reached a crescendo on november 15, when tickets were first made available for purchase. in an experience that has since been likened to the hunger games, fans were met with site crashes, slow loading times, and a variety of technical glitches that were the result of “historically unprecedented demand”. adding insult to injury, fans who had been unable to secure tickets during the verified fan or capital one presales were further snubbed when ticketmaster abruptly cancelled the general sale scheduled for november 18, citing “extraordinarily high demands and insufficient remaining ticket inventory”. in the great war for eras tour tickets, swifties became the ultimate sacrifice   and swift herself was not having it. in a statement on instagram, the singer voiced her disappointment with ticketmaster, adding thereafter that she would be investigating the issue and working on improving the system moving forward. fans have since sued ticketmaster for their gross mishandling of the situation, and the first court hearing took place on march 27 2023, with fans seeking usd 2,500 in damages each. it is unclear if a resolution has been reached. with her incredible pull, charisma, and the love she enjoys from a devoted fan base determined to see her succeed, taylor swift’s success is written in the stars. the nfl’s ‘swift bump’ is incontrovertible proof that everything she touches turns to gold; and this much remains true, particularly for the cities that have been lucky enough to play host to her eras tour. in the study of swiftonomics, everybody wins. with almost 54,000 fans in attendance per concert during the usa leg of the eras tour, swift and local businesses from hotels to retail outlets all stood to profit. a survey by software company questionpro estimated that swifties spent usd 93 million per concert on tickets, merchandise, travel, hotels, food, and outfits. the same study also found that individual attendees spent an average of usd 1,327.74 on their concert experience, highlighting the willingness of swift’s fans to go above and beyond. of the phenomenon, dan fleetwood, president of questionpro research and insights had only this to say: “if taylor swift were an economy, she’d be bigger than 50 countries.” a post shared by taylor swift (@taylorswift) in the usa alone, preliminary estimates had projected the eras tour to generate close to usd 5 billion in consumer spending; a wall street journal article later placed the figure at usd 5.7 billion, pointing to swift’s power in almost single handedly boosting the country’s economy in a post pandemic world. the taylor swift effect on economies and lifestyles has also been felt closer to home, when the star brought her eras tour to singapore this past march. southeast asian fans were bitterly disappointed to learn that the eras tour would only be stopping in the island nation, where swift would be performing six sold out concerts. it was later revealed that the decision was made as part of an exclusivity deal struck with the singaporean government, who had provided additional funding and incentives to secure the starlet’s undivided attention. the investment paid dividends, with industry experts and analysts estimating that the concerts would generate usd 260 million to usd 375 million in tourism receipts. beyond the spectacular success of the eras tour concert, swift has also cleverly extended the experience to those unable to procure tickets. while concert films are not a novel invention by any means, the eras tour concert film shattered several records, reflecting the success swift has enjoyed live on stage. as the highest grossing concert film in the world, the eras tour grossed usd 261.7 million worldwide; and that’s not all. a post shared by taylor swift (@taylorswift) with the movie’s release, cities (and swifties) that had been excluded from the original tour were able to participate, and also profit from the eras tour. and thus, taylor fever continued to sweep the world, with fans and businesses hosting eras tour events to celebrate the concert film and the singer in their own unique ways. a post shared by taylor swift (@taylorswift) swift’s inimitable brightness and genius shone through at every step of the way. following the conclusion of the eras tour movie run on cinemas, swift took an alternate cut to streaming platforms, and in a clever nod to her re recording projects, named it taylor swift: the eras tour (taylor’s version). in one fell swoop that cemented her place as both a mastermind and the man, swift made certain her fans could enjoy multiple different experiences: live concert, in the cinema, and at home, in which every rendition hits different. if any fan collective can boast of solidarity, it is taylor swift’s army of unfaltering swifties. from promoting swift related merchandise from small businesses to the now iconic trading of friendship bracelets, swifties, whether friends or strangers, have assumed their places as part of a ‘secret club’. beyond the incredible boon this provides to smaller businesses in terms of sales (read: friendship bracelets, which have enjoyed a 15,200% increase in sales on ebay), swifties have also gone above and beyond in planning their concert outfits. this has resulted in a landslide of ‘eras tour outfit checks’ on social media, with swifties the world over sharing their looks   and getting hyped up by perfect strangers online. with the upcoming release of the tortured poets department and the eras tour set to resume in paris on may 9, taylor fever is far from over. and while the eras tour has already set the standard for global success, something tells us that this inimitable genius has more in store for us. to that we say: long live! (main and featured image: taylor swift/instagram) frequently asked questions (faqs)   how does taylor swift impact the economy? taylor swift’s eras tour has had an incredible effect on economies and lifestyles across the world. every city that has hosted the eras tour concerts has enjoyed increased consumer spending on travel, hotels, food and beverage, and various other sectors.   what is taylor swift’s impact on society? taylor swift has fostered a community of fans who stand in solidarity as swifties. beyond her charitable donations to the cities she visits (it has been reported that swift donates to food banks on her eras tour routes), swift has also uplifted the hearts of her fans with her generosity, with her money, time, and attention. most recently, swift endeared herself to the public in sydney, when she gave her 22 hat (worn during her rendition of the song 22) to nine year old scarlett oliver, who is battling an aggressive and incurable brain cancer.   how has taylor swift helped the world? taylor swift is known to quietly donate to victims of natural disasters, libraries, and food banks. it is reported that she donates to food banks on her eras tour routes. beyond major donations, swift has also been known to donate money to struggling fans, proving her devotion to swifties.   why is taylor swift a role model? newly minted billionaire taylor swift has donated to victims of natural disasters, libraries, food banks, and struggling swifties. she is known to be generous with her time and attention and has shown up for her fans in numerous ways from visiting them in the hospital to paying off their debts. beyond that, she is also known to be a generous boss, garnering the loyalty of her tour crew, some of whom have stayed with her from the very beginning. associate digital editor emmelyn curates and creates content in kuala lumpur, where she's spent the past decade building a portfolio comprising copy and video spanning print and digital platforms. endlessly fascinated with cookbooks, ..read moreinterior design, aesthetics, and video games, she is also an ardent foodie   a lemon tart, lychee martini, and latte enthusiast. her favourite animal is the common wombat. she's written one award winning cookbook. read less yes, i agree to the privacy policy thank you for your subscription. thank you for your subscription.

listen bank pekao economists have examined the upcoming concerts of american megastar taylor swift in poland. they noticed that in 2023, the concepts of "swiftlation" or, more broadly, "swiftonomics", which refer to the economic impact and increase in spending by the singer's fans on the economies of the cities hosting her concerts, gained popularity. "as part of the eras tour tour, which started in march 2023 and includes 153 concerts around the world, the pop sensation has already traveled through asia, north, and south america, and now she's in the middle of her european leg of the tour. the entire tournée is scheduled to end in december 2024. each of her concerts has become something of an economic phenomenon with inflationary implications. the american singer's tour creates enormous demand, especially in the tourist services sector. hundreds of thousands of fans spend money on concert tickets, accommodation, catering, and souvenirs around the city. they also look for interesting attractions and facilities, such as cafes, museums, or shopping centers," says bank pekao in its analysis. analysts added that, according to their estimates, taylor swift's three concerts in warsaw will attract tourists who "can spend up to about pln 190 million (€45 million) in the capital." "for the countries where taylor swift gave a concert during the eras tour, we checked the evolution of seasonally adjusted service inflation in the months close to the concert (both before and after) after excluding the trend from the previous months. we will be able to illustrate its strength and dynamics through the common price trajectory, and also some evidence of its impact on inflation," the analysis indicates. in two european countries, taylor swift's concert had an unmatched impact, according to the report. "this is sweden and portugal. in the month of the concert alone, services inflation in sweden was increased by 0.4 percentage points, and in portugal by over 1.5 percentage points!”, stated the report. (aj) source: pap

supported by consumer prices rose 2 percent in june from a year earlier, a bit higher than economists expected, with a big jump in hotel prices coinciding with a blockbuster series of concerts. source: office for national statistics by the new york times by eshe nelson reporting from london inflation in britain held steady in june as the bank of england inches toward its first interest rate cut in years and economists pondered whether a global pop star helped keep services prices higher. consumer prices rose 2 percent from a year earlier, the office for national statistics said wednesday, the same rate as in may, and in line with the central bank’s target. inflation was pulled down by cheaper clothing but offset by a jump in the price of hotel rooms. food inflation also slowed, with prices rising just 1.5 percent compared with a year ago. the inflation report and data on wage growth expected on thursday are being closely watched by investors, who had been betting on a 50 percent chance the central bank will cut rates at its meeting in early august. but the june inflation data came in slightly higher than expected. core inflation, which excludes energy and food prices, was expected to dip but remained at 3.5 percent in june. traders reduced their bets on an august rate cut, giving it about a 35 percent chance. inflation in the services sector, which includes categories like hospitality, held steady at 5.7 percent in june, defying economists’ expectations for a fall. wage costs make up a significant proportion of services inflation, meaning once those costs start to rise, it can be hard to bring prices down. the increase in hotel prices in june   up almost 9 percent from the previous month   coincided with taylor swift’s eras tour landing in britain. the tour has become something of an economic phenomenon, with potentially inflationary consequences. ms. swift performed 10 shows in britain in june, and is returning in august.

javascript is disabled last month my wife and daughter dragged the mintz family to london to see famed singer and performer taylor swift play at wembley stadium. while i survived the show, and really enjoyed it, my family, like so many americans, may have sparked inflation across europe. before i get to the “taylor effect” on inflation, first off here is my review of the concert … while i’m not a “swiftie,” my teenage daughter idolizes the singer/songwriter and it was her dream to one day see a taylor swift show. and as a dream maker of a father, i delivered front row seats to the show … though of note, we “only” paid $500 per ticket in london, whereas tickets behind the stage in the u.s. were going for over $2,500! [text_ad] so how was the concert? it was really great! taylor performed for three and a half hours straight, singing and dancing with great enthusiasm and energy, while constantly changing costumes, backdrops, and themes. she is an amazing performer, so much so that my teenage son, who is not a fan, was blown away by the experience. here are a couple pictures from the show, with the second photo of fellow star ed sheeran who surprised the crowd by joining taylor on stage for a couple songs. and while the show was great, one thing that stood out for the mintz family was how many americans were at the show. i’m not exaggerating when i say it’s possible that 50% of those people that we met, or just heard talking in passing, were americans. in fact, one british concertgoer said to me “where the hell did all you americans come from?!!!” so why do i bring this american invasion up? evidently, the mintz family and others were spending enough money, that economists felt the need to highlight that the “taylor effect” could spike inflation across europe this summer. for example, here are a couple headlines as taylor’s concerts went from city to city: analysts attributed a surprise surge in swedish inflation in may to three swift concerts in stockholm that drove up the city’s hotel and other service prices. from the new york times: inflation in britain held steady in june as the bank of england inches toward its first interest rate cut in years and economists pondered whether a global pop star helped keep services prices higher. consumer prices in england rose 2 percent from a year earlier, and in line with the central bank’s target. inflation was pulled down by cheaper clothing but offset by a jump in the price of hotel rooms. “while difficult to fully untangle, it’s certainly very possible that some taylor swift effects were at play here,” sanjay raja, the chief u.k. economist at deutsche bank, wrote in a note. strategists at td securities noted that ms. swift’s tour probably pushed up services inflation a little. and while taylor swift was the big event that the mintz family traveled for, we also went to see a west ham soccer game, as well as ate and drank our way through london, and finally, because my wife wanted to be fair, she felt it was only right to spend some money and add to inflation on a shopping spree in paris as well. all in all, it was a fantastic trip and my kids will hopefully remember this vacation for the rest of their lives. though by the end of our travels, it was good to be back in the united states, and back at the trading screens ready to finish 2024 off strong for cabot options traders. [author_ad] get my free report as seen on choose your free reports you have access to our expertly curated collection of free investing reports, including 5 best stocks to buy this month, how to find undervalued stocks, how options work, and more. get my reports copyright © 2025 cabot heritage corporation, all rights reserved | privacy policy | terms of use & conditions of sale

please refresh the page or navigate to another page on the site to be automatically logged inplease refresh your browser to be logged in independent premium want to bookmark your favourite articles and stories to read or reference later? start your independent premium subscription today. from reproductive rights to climate change to big tech, the independent is on the ground when the story is developing. whether it's investigating the financials of elon musk's pro trump pac or producing our latest documentary, 'the a word', which shines a light on the american women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. at such a critical moment in us history, we need reporters on the ground. your donation allows us to keep sending journalists to speak to both sides of the story. the independent is trusted by americans across the entire political spectrum. and unlike many other quality news outlets, we choose not to lock americans out of our reporting and analysis with paywalls. we believe quality journalism should be available to everyone, paid for by those who can afford it. inflation in the uk stayed at 2% last month, new official figures showed. it means it matched the target rate set by the government and the bank of england for the second month running. here, the pa news agency looks at what the latest inflation data means for households and the economy.   what is inflation? inflation is the term used to describe the price of goods and services rising. the inflation rate refers to how quickly prices are going up. june’s inflation rate of 2% means that if an item cost £100 a year ago, the same thing would now cost £102. it is unchanged from the inflation rate recorded in may, meaning that prices are increasing at the same pace as they were the month before.   does it mean prices have stopped getting higher? no, prices across the country are still rising, just at a much slower rate than they were before. but the government does not want prices to fall. it sets the bank of england, the uk’s central bank, a target to keep the inflation rate at 2%. it says this is the ideal level to help people and businesses plan their spending, and keeps price rises low and stable.   has anything got cheaper? yes, some items have been going down in price. clothing and footwear prices fell in june compared with may, with sales in shops helping drive down costs. some food prices also fell last month, such as fish, milk, cheese and eggs. electricity prices have also dropped sharply from a year ago. however, other things have been getting more expensive. in particular, restaurant and hotels prices jumped by 6.2% in june, with the cost of a hotel room jumping by nearly 9%. package holiday prices also surged last month, while cinema, theatre and concert prices continued to rise.   is it true that taylor swift’s tour was behind this? some economists have suggested that the “taylor swift effect” prompted hotels and restaurants to raise their prices by more than usual during the month. bank of england policymakers may be cursing taylor swift the singer toured sold out arenas in cities across the uk in june   in cardiff, edinburgh, liverpool and london   leading to fans spending more on overnight stays. sanjay raja, chief uk economist for deutsche bank, said it is “certainly very possible that some taylor swift effects were at play” in relation to the “staggering” jump in overnight hotel prices. laura suter, director of personal finance at aj bell, said: “bank of england policymakers may be cursing taylor swift, as fans spending on hotel rooms and in restaurants during her eras tour is likely to be one reason that prices rose in june, meaning that overall inflation flatlined at 2% rather than fell.” however, due to the date that the ons collects its data   in this case, on or around june 11   it is hard to determine how big an impact individual events have on the monthly data.   does inflation hitting its target mean that the bank of england can lower interest rates? the bank of england uses interest rates as a tool to help control inflation. rates are currently at 5.25%, having been held at the level since august last year. the fact that the inflation rate hit its target for two months in a row will be good news for policymakers at the bank. however, experts stressed that they will be more likely to consider the finer details of the inflation data rather than the overall rate. in particular, services inflation   which looks only at services related categories such as hospitality, culture and housing   remained higher than expectations last month. ms suter said: “this sticky element of inflation is of big concern to the bank and even a small drop in the right direction would have given more confidence that now is the right time for interest rate cuts.” luke bartholomew, deputy chief economist for abrdn, said the bank’s next decision in august sits on a “knife edge” following the latest inflation data. please refresh the page or navigate to another page on the site to be automatically logged inplease refresh your browser to be logged in
please be informed that a specific anonymous source is attempting a cyber attack to damage the reputation of world economic magazine. they might attempt to access your personal or professional email under the guise of making untrue accusations against our company via email, the internet, etc. you are urged to use extreme caution when receiving such emails because these statements are false and fraudulent.please note that we never owed any monetary dues to any party whatsoever. any agency or source claiming otherwise, is doing so solely with a deceitful intention and is a part of fraudulent activities taylor swift’s eras tour has taken europe by storm, captivating fans and even influencing economic discussions. from royalty to rock legends like paul mccartney, swift’s performances have been hailed as monumental. economists have coined the term “taylor effect” to describe her impact on the economy. however, christine lagarde, president of the european central bank (ecb), has dismissed claims that swift is a significant factor in the region’s persistent inflation. eurozone inflation fell to 2.5% in june, nearing the ecb’s target of 2%. despite this progress, service inflation, potentially influenced by events like swift’s tour, remains high. this has complicated the ecb’s efforts to implement further interest rate cuts following a reduction in june. lagarde humorously refuted the idea that swift’s tour is a major contributor to inflation, emphasizing that her temporary presence cannot cause lasting economic effects. “it’s not just taylor swift, you know,” lagarde remarked in an interview with cnbc at the ecb forum. “others have come as well.” lagarde pointed out that more significant factors, such as rising wages for service employees and increased business profits, should be the focus. these elements contribute more substantially to the inflation picture than swift’s tour. sweden’s central bank, the riksbank, did acknowledge a spike in inflation coinciding with swift’s concerts, noting an 11% increase in hotel prices in may due to “gig trippers” traveling across europe to see her. however, even this effect is a small piece of the overall inflation puzzle. the “taylor effect” is a documented phenomenon wherever swift’s era tour has landed. in the u.s., her influence even extended to her boyfriend, american football player travis kelce, who saw increased sponsorship deals. analysts predict swift’s european tour will have a more significant economic impact than in the u.s., aided by a strong dollar and favorable eu regulations on ticket resales.