Taylor Swift’s Concerts to Inject £49 Million into Liverpool's Economy

This landmark event is more than just a musical spectacle; it's set to provide a substantial economic boost for Liverpool. Here is an insight into how these concerts will affect various industries, bringing in millions and helping transform the local economy:

• Taylor Swift's concerts in Liverpool are expected to inject a total tourist spend of between £29.1 million to £48.6 million (around £540 per tourist)
• Anfield Stadium has a capacity of ±60,000 for concerts - so around 180,000 fans are set to attend the concerts over the three nights, with 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 54,000 (30%) to 90,000 (50%) 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.

The hospitality industry will be one of the biggest beneficiaries during the concert weekend. With a potential influx of 54,000 to 90,000 tourists over the weekend, hotels and other accommodation could be operating at full capacity.

On average, these visitors will stay for three nights, spending an average of £100 per night depending on the type of accommodation. This translates to an estimated £16.2 million to £27 million in revenue for hotels alone.

A mid-range hotel charging £100 per night 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

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

Let’s assume concert goers who are not local to Liverpool will be attending meals during their stay - tourists spend on average around £50 per day on food, leading to potential additional revenues of £8.1 million to £13.5 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 £1.6 million to £2.7 million for local shops and into the Liverpool 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 will spend around £20 per day on transportation in Liverpool, generating an additional £3.2 million to £5.4 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 extends to the coffers of local and national governments. Through VAT and income taxes, the Liverpool Council stands to gain significantly.

With tourists' total estimated spending ranging from £29.1 million to £48.6 million and the assumption that VAT will be charged at 20%, the VAT alone could bring in between £5.8 million and £9.7 million.

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 Liverpool Beatles Museum will see more visitors, local tour operators will enjoy higher bookings, and even small businesses like pharmacies and local shops may feel the positive impact.

Taylor Swift's concerts at the Anfield Stadium are set to be a monumental event for Liverpool, 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 tourists. 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 on Liverpool can be summarised by the significant increase in spending across multiple sectors:

• Total Tourist Spending: £29.1 million to £48.6 million
• Each tourist could spend around £540 each over the weekend
• Accommodation: £16.2 million to £27 million
• Food and Beverage: £8.1 million to £13.5 million
• Retail and Souvenirs: £1.6 million to £2.7 million
• Transportation: £3.2 million to £5.4 million
• Government VAT Revenue: £5.8 million and £9.7 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.

Methodology

The estimates and projections in this article are based on average spending patterns of tourists, expected attendance figures, and current economic data for Liverpool.

We made the calculations based on data from multiple sources, in relation to the number of concert goers attending the weekend who are not local to Liverpool, and assuming they stay for an average of 3 nights.

Specific numbers and percentages are derived from industry reports, tourism studies, and local government data, ensuring an accurate and realistic portrayal of the potential economic impact.

This high-energy event promises to be more than just music to the ears—it will be a significant economic symphony for Liverpool and beyond.