👉 Background: Taylor Swift is one of the biggest stars in the world right now. She has made 14 albums, including four re-recordings of her earlier albums. And globally, re-sale of her tickets have been selling for more than 10x the retail price.

👉 What happened: Now, Taylor Swift has performed her first three Aussie shows in Melbourne to enormous fanfare. In fact, it's expected that more than $60 million has been spent on merchandise sales alone.

👉 What else: Despite the slow down in the economy and consumer spending, Taylor Swift concerts are an economy unto themselves—aka 'Swiftonomics'.

What's the key learning?

💡Swiftonomics is the term used to describe the enormous ripple effects that Taylor Swift has when she tours in a city or country.

💡There are some serious numbers backing up that theory:

• In the US, her concerts have had an economic impact of more than $5 billion USD.
• For each night of her show, the city experiences the same level of economic uplift as the whole Super Bowl: this happened on 53 different nights in 20 different locations.

💡On Friday, Melbourne Airport had its busiest day since March 2020 with the influx of Swifties. And, 97% of hotels and Airbnbs in Melbourne's city and surrounding areas were occupied over the weekend. So cost of living limitations seem to go out the window when Taytay's in town.

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