Taylor Swift’s Sydney and Melbourne concerts will add just $10 million to the national economy, as the international megastar walks away with more than $100 million in profit from the Australian leg of the Eras Tour.
Despite the media hype around so-called “Swiftonomics” and “Swiftflation”, the net boost to GDP from Swift’s Australian tour was much lower than most commentary to date suggested, KPMG chief economist Brendan Rynne said.
Loading...
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
