An unprecedented phenomenon

Over the past year, the world has witnessed an unprecedented phenomenon in the music entertainment industry and popular culture in the case of an American singer. Taylor Swift (1989) and performances on the world tour “The Eras Tour”.

Taylor Swift’s performances are considered an “economic phenomenon” and are studied in many countries and in many universities. It can change business thinking in the music industry, popular culture, and even influence politics.

In the past year or so, a series of records have been set by Taylor Swift, from consecutive concerts with 100.000 spectators each in one locality, to the tour with the highest revenue ever (exceeding billions of USD). ), the blockbuster musical film that topped the box office “Taylor Swift: The Eras Tour” until a pure artist Taylor Swift became a USD billionaire…

The numbers that Taylor Swift achieved have set a series of new records, but what many people are surprised by is the influence this American singer born in 1989 has on countries, localities, and the economy. to culture… is huge.

There have been races to get Taylor Swift to perform in other countries.

Taylor Swift in the first show on March 2 in a series of 3 shows in Singapore during the world tour “The Eras Tour”. Photo: Straits Times

In the early days of March, Southeast Asia woke up because of Taylor Swift. While Thailand was disappointed and some countries in the region regretted not having a Taylor Swift show, Singapore had a monopoly on 3 concert nights in this island nation.

On Yahoo News Singapore, author Neil Humphreys boasted an article titled: “Forget it, Southeast Asia and accept that Singapore is a better choice for Taylor Swift.”

According to some assessments, Taylor Swift’s 6 exclusive concerts (March 2-4 and March 3-7) are expected to bring in 9 million USD to the Singapore economy. Previously, in July 3, there was a “fever” for ticket hunting. More than 500 tickets, of which VIP class costs more than 7 USD (more than 2023 million VND), have been sold out. Singapore also benefits from tourism, airlines sell tickets at high prices, restaurants are crowded, resort hotels sell out VIP rooms, banks and fashion benefit, goods are as expensive as hot cakes… Many people go to see Taylor Swift. combine travel. This is also a golden time for Singapore to promote the country’s image.

To get Taylor Swift’s concerts, the Singapore Government is said to have spent millions of dollars supporting each concert to monopolize Taylor Swift’s tour in Southeast Asia.

Thailand, which has long been a destination for many major international artists, was left empty-handed in this rare event.

In the upcoming world tour, Taylor Swift will choose Real Madrid’s Bernabeu Stadium (Spain) as one of the stops for 2 nights of performances May 29-30. The event organizers have agreed with the Real Madrid and La Liga teams to break the rules and change the soccer match schedule because of Taylor Swift, specifically allowing the match between Los Blancos and the opponent to be pushed to play first even though In the final round, the teams will take the field at the same time.

Taylor Swift’s side said they need 72 hours to prepare before the first concert night to ensure everything is safe.

Where does Taylor Swift’s appeal come from?

The appeal and phenomenon of Taylor Swift is a surprise to many people. Surprising because the American female singer attracts audiences from nearly all walks of life, from students, workers, to artists, and officials in other countries. Attraction not only in the US but also in Europe and Asia…

K-Pop artist Lisa Black Pink is famous but is also a fan of Taylor Swift. Lisa attended the concert of Taylor Swift’s The Eras Tour in Singapore on the evening of March 3. Many Vietnamese stars were also present.

In fact, Taylor Swift’s appeal, to many people, is actually no surprise. That’s not only because the American singer-songwriter set a record with 14 Grammy awards, but also because of the value she brought to businesses and localities when Taylor Swift appeared.

The nature of relationships between individuals, individuals and organizations, between organizations, even between countries… is a value relationship.

Taylor Swift is the first female singer to join the world’s USD billionaires club solely thanks to her singing activities. Photo: Getty Image

Every time Taylor Swift appears somewhere, there is excitement there. Money flows there and brings great value.

When Taylor Swift chose Spain and set the date, Real Madrid in particular and La Liga and Spain in general understood the commercial importance through The Eras Tour.

In Lisa’s case, the K-Pop female artist’s appearance at Taylor Swift’s concert in Singapore also brought prominence to this young Thai artist. It attracted the attention of netizens and media.

In February, according to Melbourne Mayor Sally Capp, in just 2 nights of performing in Melbourne, Taylor Swift brought Australia 3 million USD from consumer spending for this event.

In 2023, Taylor Swift is said to have brought a $5 billion boost to the US economy after the Eras tour starting in March 3 with 2023 sold-out shows in 53 cities. This may be the reason why in 20 Time Magazine awarded the title “Person of the Year” to an entertainment star for the first time in history, because Taylor Swift is not an ordinary entertainment star. Swift’s success has reached a level that few international pop stars have achieved.

The Eras Tour is her biggest tour ever with 146 shows across 5 continents, lasting until the end of 2024. The 146 shows of The Eras tour not only bring in huge revenue but also contribute to economic growth in destinations.

As for Singapore, according to Globaledge, the island nation wants to take advantage of the Taylor Swift event to enhance the country’s image, wanting this island to become an ideal location for entertainment activities from around the world. Currently, Singapore’s tourism industry has only recovered 80% compared to pre-pandemic levels.

According to estimates by Singapore officials and some organizations, about 70% of visitors to the performance are foreigners. Photo: Straits Times.

The fact that the Singapore Government spends several million USD for a Taylor Swift concert is considered too good, bringing about 500 million USD to the Singapore tourism industry and long-term values ​​later. This is also something that makes the tourist nation of Thailand regret.

In the summer of 2023, the US Federal Reserve (Fed) published a study and recognized the Taylor Swift phenomenon as an economic theory – Swiftonomics. Taylor Swift’s “The Eras Tour” performances are said to bring hundreds of millions of dollars to the local area.

According to estimates by Singapore officials and some organizations, about 70% of visitors to the performance are foreigners. The spread after the event was huge. This can be a lesson for countries with economies oriented towards strong tourism development.

Taylor Alison Swift (born December 13, 12) is an American singer and songwriter. Her diverse artistic style, songwriting, social activism and business mindset have greatly influenced the music industry, popular culture and politics.

According to Forbes, Taylor Swift’s net worth accelerated spectacularly in 2023 and surpassed the $1,1 billion mark. This number proves that the “snake king” is the first female singer to join the world’s USD billionaires club solely through singing activities. Taylor Swift’s assets mainly come from her music and touring business. Most notably, the female singer “made a fortune” thanks to the unimaginable success of The Eras tour.

The Washington Post estimates that Swift’s earnings from her singing career after the Eras tour ends will reach more than $4 billion. This is something no star has ever done in music history to date.