Tax & Spend
Taylor Swift, Beyoncé and Barbenheimer Are Expected to Add Billions to US Economy
Economists see “once-in-a-blue moon” boost from the concerts and movies supporting third-quarter growth.
Taylor Swift performs during her Eras Tour at Sofi stadium in Inglewood, California, on Aug. 7.
Photographer: Michael Tran/AFP/Getty ImagesThis article is for subscribers only.
Taylor Swift, Beyoncé and “Barbenheimer” fever are giving a serious boost to the US economy.
The megastars’ tours and blockbuster films are expected to add up to $8.5 billion to US growth in the third quarter, according to Bloomberg Economics. The nearly 50 US concerts the artists have scheduled could add $5.4 billion to gross domestic product, while the films Barbie and Oppenheimer are projected to add about $3.1 billion in consumer spending and exports from international ticket sales.