‘Swiftlation’ sweeping nation: Parents plunged into debt to get kids to Tay-Tay
Parents are offering up to $5000 for sold-out Taylor Swift tickets as an accountant warns of “Swiftlation”, with cash-strapped Aussies racking up huge debts for their Tay-Tay fix.
Entertainment
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Queensland parents are offering $5000 a pop for sold-out Taylor Swift tickets as a Gold Coast accountant warns of “Swiftlation”, with cash-strapped Australians racking up huge credit card debts for their Tay-Tay fix.
Michael Jeffriess, of Mudgeeraba, says Swiftlation is sweeping the nation, fuelled by eye-watering price hikes for accommodation and airfares ahead of the star’s Melbourne and Sydney concert dates.
“Ordinary Australians are being taken advantage of – they can’t afford to spend thousands on tickets, airfares and accommodation right now, but they’re doing it and banging it on their credit cards,” he said.
Mr Jeffriess, an accountant and CEO of fintech company LightYear Docs, said the “swift and sudden” impact of discretionary spending by fans would worsen inflationary pressure.
“I know of dads who’ve offered to pay $5000 to keep their daughters happy and grab sold-out tickets,” he said.
“It’s extraordinary the lengths people will go to – and then there are the associated costs of outfits, food and drinks, and merchandise splurges.”
Mr Jeffriess knows first-hand the pull of the American star.
His wife Leanne and daughter Jessica are flying to Melbourne on Thursday ahead of Friday’s concert where they’ll be wearing glittering Eras Tour inspired outfits.
The pair will stay at Crown Metropol, where a king-bed room jumps to $899 per night on February 16 and 17, from $259 per night earlier in the week.
Jessica Jeffriess, a Year 11 student at Somerset College, couldn’t be more excited.
“I love her music and she is an iconic person, it will be the most amazing experience ever,” the 16-year-old said.
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