Madrid, June 27 (EFE).- Taylor Swift’s concerts held in Madrid on May 29 and 30 coincided with an increase of 31% in year-on-year spending on clothing and a 35% increase in that of clothing stores, according to data provided by Mastercard Spending Pulse.
This entity measures in-store and online retail sales across all forms of payment, including both aggregate sales data across its network and survey-based estimates for other forms of payment, such as cash and checks.
With the arrival of hundreds of thousands of “swifties” to the Spanish capital, restaurants registered an increase in sales of 16% and establishments selling fashion accessories a rise of 19%, compared to the same period of the year former.
After the Madrid concerts, Taylor Swift continued her tour of the French city of Lyon and Edinburgh. In the first case, spending on hotels and accommodations registered an increase of 118% compared to 2023; and in the restoration the increase was 23%.
As for the Scottish capital, the growth in hospitality sales was 26% and, in the hotel sector, 29%.
“Taylor Swift’s tour, which began in May in Europe, has generated significant economic benefits across the continent, similar to her other performances around the world,” said Natalia Lechmanova, chief economist for Europe, the Middle East and Mastercard Economic Institute Africa.
According to the expert, this tour by the American singer has shown that “musical events of this magnitude can be very beneficial for the local economy.” EFE
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