Business

Dublin feels the ‘Swiftonomics’ effect as spending rises nearly 20%

Pub and restaurant owners did not need to worry about trying to fill a blank space as spending rose by 13% compared to the previous weekend

Taylor Swift performing on stage at the Aviva Stadium in Dublin, during the Eras Tour. Photograph: Liam McBurney/PA

Fiona Keeley
Thu Jul 4 2024 - 12:34

Spending rose by 17 per cent in Dublin during the weekend of the Taylor Swift concerts, according to a study published on Thursday.

The Bank of Ireland Spending Pulse survey analysed debit and credit card spending across the capital as Dublin felt the so-called Swiftonomics effect from June 27th to June 30th.

The highest increase in spending was among teenagers at 63 per cent, while the 26- to 35-year-old age group followed them with spending up 30 per cent. Spending also spiked by 25 per cent for 18- to 25-year-olds.

Sectors across the economy saw a boost in revenue over the few days with beauty spa income up 34 per cent, Spotify streams increasing by 20 per cent and record stores recording a 19 per cent boost in sales.

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Pub and restaurant owners saw spending rise by 13 per cent compared to the previous weekend.

“We have witnessed the impact of Swiftonomics across cities worldwide and Taylor’s Eras Tour coming to Dublin was unlikely to make her an anti-hero among business owners,” said Owen Clifford, head of the retail sector at Bank of Ireland on the survey.

[ Emer McLysaght: My three nights at Taylor Swift cost me €47 an hour. Cheaper than therapy ]

“Spending in central Dublin areas boomed last weekend as Pride revellers and GAA fans also joined the party. Overall, the weekend’s festivities provide a tangible boost to a variety of sectors, he added.

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