The Summer Olympics in Paris may be a big event, but it’s encountering a tough contest from a powerful source, Taylor Swift. The popstar’s ‘Eras Tour’ is demonstrating to be a significant interest for American tourists.
Bloomberg reports Swift’s four Paris concerts are attracting five times more US citizens than the iconic sporting event.
Embark Beyond, a luxury travel company verifies this trend. Jack Ezon, the company’s co-founder, voiced his surprise, saying, “I never would have anticipated it… she’s even overshadowing the Olympics.”
Ezon’s firm has arranged over 200 trips to Paris for concertgoers. Many of these clients are mother-daughter pairs who are also indulging in shopping sprees. The inflow of tourists is rising in luxury hotels, and about 20% of visitors are extending their European vacations after the concerts.
Bloomberg reports lowered demand for the Olympics, leading to declining hotel prices and vacation rental discounts.
The cause for Taylor Swift’s overseas popularity burns down to European ticket resale laws. These regulations prevent exorbitant ticket prices, making it more reasonable for US citizens to travel abroad to see the singer perform.
Bloomberg, last year, estimated Taylor Swift’s concerts generated a whopping $4.3 billion contribution to the U.S. gross domestic product.
