A Q&A with Andrew Weir, President & CEO of Destination Toronto, on Taylor Swift’s expected impact on the visitor economy
Toronto is set to host the Taylor Swift Eras Tour for six concerts this November.
Terminal editor Kathy Motton chatted with Andrew Weir, President & CEO of Destination Toronto about what kind of impact Taylor Swift is expected to have on Toronto’s visitor economy.
Most attendees will stay overnight in Toronto—some with friends or family, but many in paid accommodations, both near the concert venue and throughout the city. This influx of visitors not only boosts the hospitality sector but also benefits other local businesses across the city.
KM: How do concerts like Taylor Swift’s create economic impact for cities?
AW: As one of the largest entertainment and media markets in North America, Toronto has long been a must-stop for major global concert tours. Artists like Beyoncé, Ed Sheeran, and Drake often choose Toronto, not only because of the strong local fan base but also due to our city's connectivity to other markets.
The Eras Tour is a prime example of how major events impact our city—whether it's concerts like Taylor Swift’s, international meetings and conventions, or signature annual festivals like Pride, TIFF or Caribbean Carnival. These events draw visitors who spend money locally, benefitting a wide range of businesses and supporting jobs across the city. And that spending continues to benefit the local economy long after the concert or event has ended.
Just a few photos of Taylor enjoying Toronto could influence her fans and spark curiosity about the city where she spent two weeks.
KM: What is Swiftnomics, and how does it affect Toronto?
AW: Taylor Swift’s economic effect is being dubbed "Swiftnomics" because her concert-goers are spending significantly, despite broader economic slowdowns. Most attendees will stay overnight in Toronto—some with friends or family, but many in paid accommodations, both near the concert venue and throughout the city. This influx of visitors not only boosts the hospitality sector but also benefits other local businesses across the city.
Beyond the concerts themselves, the excitement surrounding Taylor Swift's visit extends to additional events and activities that further stimulate local spending. There’s Taylgate ‘24 at the Metro Toronto Convention Centre and other Swift-themed activities spread across the city, encouraging fans to explore various neighbourhoods. While they may come for Taylor Swift, they’ll also visit attractions, enjoy the city’s diverse food scene, shop, and explore other Toronto experiences, like theatre, sports, and nightlife.
What impact will the six Taylor concerts have on Toronto’s visitor economy?
Business travel tends to slow down by late November, and holiday leisure travel hasn't fully ramped up yet. This makes the economic impact of the tour a significant driver of visitation and activity during a typically softer period.
With six shows over two weeks, we anticipate a substantial effect on Toronto’s economy. We're estimating $152 million in direct spending and $282 million in overall economic impact. This includes not only direct spending but also indirect impacts from the supply chain supporting the concerts, and induced impacts from employees spending their wages locally after working at affected businesses.
These events draw visitors who spend money locally, benefitting a wide range of businesses and supporting jobs across the city. And that spending continues to benefit the local economy long after the concert or event has ended.
There’s also a long-term benefit. Taylor Swift choosing Toronto as one of only two Canadian stops gives the city a reputational boost, positioning it as a must-visit destination. If she visits any local businesses during her stay, the effect could be even greater. Just a few photos of Taylor enjoying Toronto could influence her fans and spark curiosity about the city where she spent two weeks.
