Hollywood is helping boost the economy as fans flock to 'Barbie,' 'Oppenheimer,' and Taylor Swift's Eras Tour
From Taylor Swift's huge tour to the release of highly anticipated Hollywood movies, music and film have also been having a positive effect on the US economy.
"Swifties" seeing the concerts have helped boost hotel revenues and could generate $4.6 billion in total consumer spending, the Common Sense Institute said. That's bigger than the GDP of 35 countries. . In total, she doled out over $55 million in bonuses to staff, including dancers, crew, and caterers in what's not only a win for those workers but the economy too. caught the eye of the Fed.
"Revenge travel is the bounce back to normal life that Covid took away from all of us. Now, folks have a completely different attitude towards money and putting off travel as the 'fear of missing out' is quite strong. The phenomenon demonstrates the brute force with which the US consumer can drive the economy — give them money and they will spend," Cox added. phenomenon.
In two weeks,"Barbie and"Oppenheimer" have grossed hundreds of millions each, with Greta Gerwig's life in plastic-themed film set to make at least $1 billion at the global box office. "The Super Mario Bros. Movie."
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