Will Tay Tay's Eras Tour Boost Inflation Figures?

Not to Blame musical legends Taylor Swift, Ed Sheeran, Harry Styles, and even the Collingwood Magpies (I digress from the musicians; yet this iconic Melbourne-based football team do beat to a nice drum) for causing pleasant (or perhaps unpleasant) waves in a cities economy while selling out at their concerts and events, despite "tough" times, and a cost of living crisis; together with a housing crisis, and high inflation. No hate at all. In saying this, there was a TikTok creator who joked about Taylor Swift "saving" a cities economy if such a city gladly welcomes her on tour with open arms. They (as in Ed, Harry, and that AFL team that wear black and white striped jerseys) all raised inflation in Australia in early 2023, according to Shane Wright from The Age. These musicians (and the AFL footy lads) are entrepreneurs, and they deserve to be adequately compensated for their travel time, rehearsal (in the case of a contact sport, training) time; and for the fruits of their hard work in being entertaining to us all in tough times or otherwise. Inspiration should also be taken on the positive impacts they have made to our love of music and cool beats. And to sport for a team of supposed inflation boosters, who apparently "peck" on you in a different way.

Then again, Beyonce got blamed by the Swedes, for raising their inflation rate by 0.2% in May 2023, according to CBS News. Danske Bank Chief Economist Michael Grahn called it "The Beyonce Blip" - where Queen B (literally) brought ripple effects in Sweden's economy, despite the small inflationary rise.

"Beyoncé is responsible for the extra upside surprise this month. It's quite astonishing for a single (two-day) event. We haven't seen this before." - Michael Grahn

Their success (or otherwise) all comes down to demand, and (teenagers in particular) who need to be immersed in three and a half hours of #swifttok (oops, non-stop Tay Tay and Swifties) regardless as to what ripple effects that such events cause to a cities economy. According to The Guardian, it is great that over a whopping four million people in Australia (my home country, and no doubt it is the same in Canada, or anywhere else in the world) have registered with Ticketek for the presale to the Sydney and Melbourne Eras Tours in early 2024; yet according to Stadium Stomp; the MCG (in Melbourne) can only accommodate 100,024 people. Therefore between both cities, only around 450,000 tickets are available. The relevant ticketing website (Ticketek) mentioned that the moment the pre-sales tickets were released; over 800,000 Swiftie fans were logged in and ready to purchase their tickets, meaning that (mathematically speaking) 350,000 people would miss out, and maybe even more, as each purchase is capped at four tickets per person. The proof is in the pudding here. Emotional central. And what "buyers strike" are you talking about in Australia? Yours truly has never seen anything like it when it comes to live music.

The Beatles in their era could not match Tay Tay's impact on music lovers.

It really makes you think. Is a young person's "shakespeare" going to raise inflation? Not to be political; yet will this cause central banks to raise interest rates to keep inflation under control?

The Hunger Games have already begun, and (apart from also keeping Kleenex, the banks, counsellors, and utility companies (to name) quite busy); and with ticket prices as high as $1200+ (and some lost productivity) for a VIP American Express experience; that would naturally put many people on edge, despite money needing to circulate to help the economy out; especially when Australia had a win with inflation figures dropping from 6.8% to 5.6%, according to the Australian Bureau of Statistics. That begs the question: will a 'swift-flation' be a possibility?

It is wonderful, and there are many excited Swifties who were able to manifest their tickets, and relish in the generous and successful life hacks that were circulating on TikTok (trust me, as I got paid good bucks to watch all of that.) Sure, yours truly could be jealous, however it feels way too frivolous to be splashing that much cash for 3.5 hours of entertainment in times where we all (regardless of how much cash we have in the bank and in investments; or on the contrary, the lack thereof) in not knowing when this opportunity to enjoy it all, from Midnights to Karma to Maroon will ever surface again. And the concerts are creating some more jobs; yet usually of a short-term nature. Furthermore, yours truly got invited to immerse herself in an experience to listen to 75 minutes of Xavier Rudd, and indulge in some yoga for $100 - $300 plus per pop. I really want to go; yet it is a short term sacrifice to not go, while thinking about my fellow human beings; considering that a global recession is highly "likely" right now. Not joking here.

Beyond just the ticket price/s - these die hard Swifties who had the luck of the Irish in this ticketing campaign for the Eras Tours in early 2024 will now need to "spend" more money for less than four hours of entertainment. Just saying.

Yours truly overheard in an economic conversation that travel spending has dropped 11.4% in Australia in June 2023, as at the time of writing this; and with other Swifties living in other cities; they will need to fork out some cash for flights and accommodation to begin with. Not to mention food and fashion in order to look their very best, as tickets to see Taylor Swift obviously did not come cheap, due to high levels of demand. And for other unusual expenses in order to be in a high energy environment, because I get it. And I am not a party pooper; in fact far from it.

When you sing out loud, it dries your vocal cords, and therefore there is a higher demand to drink you know what, and you know what has to go out somewhere right? And for other things that any successful Switfie ticket manifestor might need, to make the outing way more pleasant can be found by clicking here. (Just pardon the brief profanity there). It really makes you think...Why oh why? Again, as much as I enjoy Taylor Swift and her Midnights album in particular; it just feels so nonsensical (despite us being here for a smashing good time, and for those who do not agree; I do respect your values) to splash so much cash on something such short lived, while there are many other fellow human beings who are struggling to pay their rent and mortgages; and for some where their housing expenses alone (before food and utilities) are increasing at levels way more than the cost of Taylor Swift tickets.

For some people; even a block of Hershey's is considered a luxury these days.

Therefore this spending spree is bound to raise inflation to keep the economy under control, and it does not take a financial guru to know what that means. The only way is up, and that will not be music to many people's ears; unless you have a decent amount of money in the bank. (Perhaps more chocolate and cappuccinos for yours truly, courtesy of all of you die hard Swifties.)

Or could the jury still be out on this trend? Or is it true that some economies are more resilient than others when it comes to cash splashes on concert tickets? Nothing wrong with a few party poppers every now and then; yet like anything in life, there are cycles for partying, and for spending...and even resting. Hopefully those waiting in line will appreciate the importance of patience being a virtue, and for the need to be resilient (once the grog and/or the ear ache wears off). For now, yours truly will be quite content in listening to Taylor Swift beats on YouTube or Spotify for the time being, while continuing to produce in her business for now.

For those lucky ducks (you had to quite literally have them in a row now didn't you?) who successfully manifested tickets to you know what...please enjoy your Tay Tay experience. And from the bottom of my heart, I truly mean that. Thank you.