Federal Reserve says Taylor Swift's Eras Tour responsible for rise in hotel revenue

FOX Business host Charles Payne evaluates the financial impact of the singer-songwriter's tour on 'Making Money.'According to the Philadelphia Federal Reserve office, Swift is personally responsible for the spike in tourism, which has boosted their hotel revenues for the first time since the coronavirus pandemic began.

"Despite the slowing recovery in tourism in the region overall, one contact highlighted 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," city officials wrote in the Federal Reserve's Beige Book, released on July 12.

Taylor Swift's Eras Tour was cited by the Federal Reserve for impacting tourism revenue in Philadelphia. The Beige Book is released eight times a year, summarizing how the economy is doing in varius cities throughout the U.S. The summary is published prior to the Federal Reserve committee meeting.

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Federal Reserve credits Taylor Swift with boosting hotel revenues through her blockbuster Eras TourTaylor Swift's 'Eras' tour is boosting the U.S. economy. One Federal Reserve office says the concerts are helping fuel the national tourism industry.
Source: NBCNews - 🏆 10. / 86 Read more »

Will ‘Speak Now’ Be Taylor Swift’s Biggest ‘Taylor’s Version’ Debut Yet?In this week’s The Contenders, the world’s biggest pop star recreates one of her most fan-beloved albums – and scores the year’s best debut so far.
Source: billboard - 🏆 112. / 63 Read more »

Taylor Swift 'Eras' tour coming to Denver estimated to bring in $140 millionTaylor Swift is expected to create a 'Gold Rush' for Denver's economy Friday and Saturday, as part of her climb to one of the highest grossing music tours of all time.
Source: DenverChannel - 🏆 239. / 63 Read more »