Taylor Swift's 'Eras' tour is boosting the U.S. economy. One Federal Reserve office says the concerts are helping fuel the national tourism industry.
Kevin Mazur / Getty Images fileTaylor Swift's Eras Tour is boosting the U.S. economy.
The central bank on Wednesday released its Beige Book, in which Philadelphia Federal Reserve officials reported"Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city," the officials wrote.
This is not the first time a government agency has credited Swift with boosting local business. Earlier this month, Cincinnati officials credited Swift and the Eras Tour with helping downtown hotels gross $1.3 million, and surrounding Hamilton County hotels earn about $2.6 million.
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