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How Taylor Swift gave Singapore’s economy a massive boost
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How Taylor Swift gave Singapore’s economy a massive boost
By Regine Cabato
March 8, 2024 at 7:14 a.m. EST
Fans of Taylor Swift take selfies with their tickets as they arrive to attend her concert at National Stadium in Singapore on March 2. (How Hwee Young/EPA-EFE/Shutterstock)
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SINGAPORE — Singapore is set to earn big money and a big reputation from hosting global pop sensation Taylor Swift’s Eras Tour, analysts are calculating.
Swift’s six sold-out concerts, which run from March 2 to 9, are expected to bring in an estimated $260 million to $375 million in tourism receipts, Erica Tay, Maybank director of macro research, told The Washington Post.
The city-state is the latest beneficiary of “Swiftonomics,” the phenomenon named for the economic boost experienced by destinations of the record-breaking tour, which has surpassed $1 billion in global sales. Singapore’s GDP is likely to expand by 2.9 percent in the first quarter of the year — its highest in six quarters — Bloomberg News reported Friday, with economists raising predictions for annual growth from 2.3 percent to 2.5 percent.
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