Spend up to 35% on credit and debit cards during Taylor Swift’s The Eras Tour concert in Singapore.
Events with big stars performing like Taylor Swift’s The Eras Tour concert always bring great profits to the local organizers, such as attracting tourists to eat, drink, and spend.
According to data from Singapore’s UOB Bank, card spending in most travel-related categories increased dramatically, led by an 85% increase in spending at clothing retailers, transport and travel. increased by 80%, and entertainment increased by more than 50%.
Taylor Swift’s concert brings about 260 – 371.9 million USD to the Singapore economy
Card spending for hotel payments grew nearly 45%, food and beverage increased more than 30%.
In terms of location, the Marina Bay area and the central business district near the Singapore Sports Center – where Taylor Swift’s The Eras Tour concert is held, have a higher spending level than the whole country.
Bank cardholders have spent more than 30 million USD to buy The Eras Tour tickets, of which cards registered in Singapore account for nearly 75%. Malaysia contributes more than 10% of revenue, Thailand and Indonesia each account for more than 5%.
Since July 2023, UOB has recorded an average increase of 45% in the number of applications to open credit cards in Singapore, Thailand, Malaysia, Indonesia and Vietnam every day after information about Taylor Swift’s concert was announced. The reason is that UOB cardholders will be able to buy tickets early for these shows.
Immediately after the performance schedule, the number of reservations at Singapore hotels in March 2024 increased by 10%. Demand for flights from places in the region to Singapore has also skyrocketed.
Overall, economists estimate Taylor Swift ‘s concert brought about 260 – 371.9 million USD to the Singapore economy.