"The Taylor Effect": Vancouver and BC set to cash in on Taylor Swift concerts
Vancouver is finally getting a chance to host the massively popular and profitable Eras Tour after Taylor Swift announced three dates for 2024 following months of pleading from fans and politicians alike.
The push for Swift to sing in the city isn’t purely from an arts and culture perspective, Swift has brought major economic boosts to cities along her tour, so much so that it’s been dubbed “The Taylor Effect” and is believed to be bringing in billions of dollars with no sign of letting up.
Swift had initially only announced Toronto as her one Canadian stop, and BC’s premier publicly begged her to reconsider.
Now, with the announcement on Thursday, there’s a lot of celebrating from the city, the province, and stakeholders who can now cash in on the tour’s success.
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BC’s Ministry of Tourism is among those celebrating not only what this means for Vancouver but the province as a whole.
“This is incredibly exciting news for Vancouver and BC. Not only because she is such a great artist but also because of the economic activity her three concerts will bring to our province,” Minister of Tourism, Arts, Culture and Sport Lana Popham said in a statement to Daily Hive.
By our estimates, just one show at BC Place could garner some $72 million, with more than 50,000 seats available and expected to sell out quickly.
With three shows, that figure becomes more than $215 million, and that is only just the starting amount, something the province is also paying close attention to.
“While we don’t know the exact numbers for BC yet, according to an economic research organization in Colorado (the Common Sense Institute), Taylor Swift’s two concerts in Denver in July contributed $140 million US to the state’s GDP. Polling also found that Swift fans in Denver spent an average of $1,327 on show-related expenses, including tickets, travel, merchandise, lodging and food,” the ministry said.
Plus, those flying in from out of province or internationally might be encouraged to stick around and even visit other parts of “Beautiful BC.”
However, with thousands of fans set to descend on the city, there are growing questions about where they will stay. Vancouver, along with BC, has been cracking down on illegal short-term rentals and increasing costs for law-abiding listers as well, something that critics have called “excessive.”
It also comes as a push for more hotels in the city is underway.
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So is there enough space?
The tourism minister says it’s not something to be worried about.
“…When Swifties come to Vancouver in December 2024 we know they will find a place to stay. AirBnbs are still allowed in primary residences, we have lots of accommodations. Vancouver actually already has a similar requirement and is able to host large events all the time,” Popham added.
Meanwhile, when asked for a statement on the concert announcement, the City of Vancouver says it is absolutely prepared.
Simply responding to our queries on hotel and short-term rental space with a tongue-in-cheek statement riddled with Swift puns and packed full of excitement.
“Welcome to Vancouver (Taylor’s Version). It turns out freedom ain’t nothin’ but missin’ you, we go back to December all the time. We are……Ready for it. ”
What do you think, is the city ready for it? Let us know in the comments.
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