Taylor Swift’s concerts to inject £133m into London’s economy

With not only Taylor performing but also supporting acts Paramore, METTE, Griff & Benson Boone, it’s set to be a knockout weekend for UK fans.

This landmark event is more than just a musical spectacle however, it's set to provide a substantial economic boost for the UK’s capital. Hellotickets has provided an insight into how these concerts will affect various industries, bringing in millions and helping transform the local economy (and doesn’t even account for her shows in August):

• Taylor Swift's concerts in London could inject a total tourist spend of between £79.6 million to £133.1 million (around £980 per tourist).
• Wembley Stadium has a capacity of ±90,000 for concerts - so around 270,000 fans are set to attend the concerts over the three nights, accounting for Taylor’s strong track record of full concert attendance.
• For major urban areas, it's common to see around 50-70% of concertgoers being local, so between 81,000 to 135,000 will be visiting from other areas.
• According to a 2023 report on domestic tourism by Visit Britain, the average length of stay for domestic visitors in the UK is around 3 nights.

The overall economic impact can be summarised by the significant increase in spending across the multiple sectors below.

Hospitality boom

The hospitality industry will be one of the biggest beneficiaries during the concert weekend. With a potential influx of 81,000 to 135,000 tourists over the weekend, hotels and other accommodation could be operating at full capacity.

June is the most expensive month for hotels in London according to Kayak, and assuming these visitors stay for three nights spending an average of £250 per night (depending on the type of accommodation), this could translate to £60.1 million to £101 million in revenue for hotels alone.

A mid-range hotel could see their usual occupancy rates double or triple, leading to a revenue increase of 200% to 300% compared to a regular weekend.

The dining scene

London’s food and beverage industry is also set to experience a significant spend increase.

Let’s assume concert goers who are not local to London will be attending meals during their stay - tourists spend on average around £50 per day on food, leading to potential additional revenues of £12.2 million to £20.2 million for restaurants and cafes over the weekend.

This isn’t even accounting for local concert goers who decide to head out to eat pre or post show.

Retail and Souvenirs: A Shopper's Paradise

Many tourists often commemorate their visit with a trip to a souvenir shop, buying trinkets to take home and gift to family and friends.

Research from Travel Supermarket estimates that domestic tourists in the UK are likely to spend an average of £30 each on memorabilia and gifts during their stay, which could raise as much as £2.4 million to £4 million for local shops and into the London economy.

Public Transport: Moving the Masses

The transportation sector will also benefit significantly. Increased usage of public transport, taxis, and ride-sharing services will be evident as tourists move around the city. On average, visitors can expect to spend around £20 per day on transport in London, generating an additional £4.9 million to £8.1 million over the weekend. Local public transport authorities and private operators alike will see a spike in revenue, mirroring the broader economic uplift.

Economic Impact on Local Council

The financial boom also extends to local and national governments. Through VAT and income taxes, London Councils could stand to gain significantly.

With tourists' total estimated spending ranging from £79.6 million to £133.1 million and the assumption that VAT will be charged at 20%, the VAT alone could bring in between £15.9 million and £26.6 million.

The Ripple Effect: Beyond the Concerts

While the immediate beneficiaries of the concerts are clear (every Taylor Swift fan knows and appreciates how hard it can be to get tickets), the ripple effect extends further. Tourist attractions like The Tower of London and The London Eye could see more visitors, local tour operators may enjoy higher bookings, and even "small businesses" like pharmacies and local shops should feel the positive impact.

Taylor Swift's concerts at the Wembley Stadium are set to be a monumental event for London, not only culturally but economically. From hotels and restaurants to retail stores and transportation services, nearly every sector will feel the positive effects of this influx of concertgoers. This weekend will highlight how large-scale events can serve as powerful economic catalysts, driving growth and prosperity across multiple industries.

The overall economic impact of Taylor Swift's concerts in London can be summarised by the significant increase in spending across multiple sectors:

• Total Tourist Spending: £79.6 million to £133.1 million
• Each tourist could spend around £980 each over the weekend
• Accommodation: £60.1 million to £101 million
• Food and Beverage: £12.2 million to £20.2 million
• Retail and Souvenirs: £2.4 million to £4 million
• Transportation: £4.9 million to £8.1 million
• Government VAT Revenue: £15.9 million and £26.6 million

These figures highlight how a single event can inject tens of millions of pounds into the local economy, benefiting businesses, workers, and public services.