Tuesday, April 23, 2024

Taylor Swift’s CDMX concerts expected to generate over 1B pesos in revenue

Taylor Swift’s hotly-anticipated Eras Tour arrives in Mexico City this Thursday, and with it, millions of dollars. 

According to Mexico City’s Chamber of Commerce, Services and Tourism (Canaco), Swift’s four shows in the city this week (Aug. 24-27) – her first ever in Mexico – are expected to generate more than 1 billion pesos (US $59.1 million) in revenue and an attendance of over 180,000 people.

Taylor Swift Eras tour
Taylor Swift’s Latin America tour dates. She has since added one more performance in Mexico City, on Aug. 27. (Taylor Swift/Twitter)

Canaco calculated that the Foro Sol, where the concert will be held, will receive an estimated 981 million pesos (US $16.6 million). Businesses in the city anticipate 12.6 million pesos (US $744,000) in revenue, followed by the tourism industry, at 8 million pesos (US $472,000). Hotels and lodging services expect a revenue of 5.5 million pesos (US $325,000) and the food and beverage industry 4.7 million pesos (US $278,000).

As one of only three countries in Latin America to host a leg of the Eras Tour, Mexico also expects an influx of fans from other countries in the region. The Mexico City Hotel Association said hotels near the Foro Sol anticipate an occupancy rate of 66% to 70%, boosting what has otherwise been a slow month. 

“These concerts are going to help us a lot because August was going to drop a bit in terms of occupancy rate in the summer,” head of the Mexico City Hotel Association Alberto Albarrán Leyva told newspaper Milenio.

Even businesses outside of the tourism industry have benefited from Swift’s upcoming concerts. 

Taylor Swift friendship bracelets
Friendship bracelets are an integral part of the Taylor Swift fandom. Some Mexican craft outlets have organized special bracelet-making events. (Katrina Burton/X)

Fantasías Miguel (a Mexican craft store chain) has created dedicated areas in-store for fans to buy beads to make friendship bracelets, to be exchanged with other attendees at the concert – a global trend among “Swifties”, as the singer’s loyal fans are known. 

Swift’s U.S. part of the tour was estimated to generate a jaw-dropping US $4.6 billion in consumer spending by research company QuestionPro. The global Eras Tour, which began in March and concludes in November 2024, may become the highest-grossing tour ever, bringing in over US $2 billion in ticket sales.

With reports from Milenio, Forbes and CNN

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