Unprecedented phenomenon Over the past year, the world has witnessed an unprecedented phenomenon in the music entertainment industry and popular culture with the case of American singer Taylor Swift (1989) and her performances on the world tour "The Eras Tour". Taylor Swift's performances are considered an "economic phenomenon" and have been studied in many countries and universities. It can change business thinking in the music industry, popular culture, and even influence the political field. Over the past year, Taylor Swift has set a series of records, from consecutive concerts with 100,000 audiences each in a locality, to the highest-grossing tour ever (over a billion USD), the blockbuster musical film topping the box office "Taylor Swift: The Eras Tour" to a pure artist Taylor Swift becoming a billionaire USD... The numbers that Taylor Swift has achieved have set a series of new records, but what surprised many people is the influence of this American singer born in 1989 on countries, localities, from economy to culture... is huge. There have been races to get Taylor Swift's performances in countries.

Taylor Swift at the first performance on March 2 of a series of 6 shows in Singapore on the world tour "The Eras Tour". Photo: Straits Times

In early March, Southeast Asia was in an uproar because of Taylor Swift. While Thailand was disappointed and some countries in the region regretted not having a Taylor Swift show, Singapore had exclusive rights to 6 shows in the island nation. On Yahoo News Singapore, author Neil Humphreys proudly wrote an article titled: "Forget it, Southeast Asia and accept that Singapore is a better choice for Taylor Swift". According to some estimates, Taylor Swift's 6 exclusive shows (March 2-4 and March 7-9) are expected to bring 500 million USD to the Singapore economy . Previously, in July 2023, a "fever" of ticket hunting took place. More than 300,000 tickets, including VIP tickets priced at more than 900 USD (more than 20 million VND), were sold out. Singapore also benefits from tourism, airlines sell high-priced tickets, restaurants are packed, hotels and resorts are full of VIP rooms, banks and fashion companies benefit, goods are selling like hotcakes... Many people go to see Taylor Swift while traveling. This is also a golden time for Singapore to promote the country's image. To have Taylor Swift's shows, the Singaporean government is said to have spent millions of dollars to support each show to exclusively own Taylor Swift's tour in Southeast Asia. Thailand, which has long been a destination for many major international artists, has been empty-handed in this rare event. In the upcoming world tour, Taylor Swift will choose Real Madrid's Bernabeu stadium (Spain) as one of the stops for 2 shows on May 29-30. The event organizers have agreed with Real Madrid and La Liga to break the rules and change the football match schedule for Taylor Swift, giving special permission for the match between Los Blancos and their opponents to be played first, even though in the final round, the teams will play at the same time. Taylor Swift's side said that they need 72 hours to prepare before the first show to ensure everything is safe. Where does Taylor Swift's appeal come from? Taylor Swift's appeal and phenomenon is a surprise to many people. The American singer attracts audiences from almost all walks of life, from students, workers, to politicians, artists, and officials in many countries. The appeal is not only in the US but also in Europe and Asia... K-Pop artist Lisa Black Pink is famous but is also a fan of Taylor Swift. Lisa attended the concert of Taylor Swift's The Eras Tour in Singapore on the evening of March 3. Many Vietnamese stars were also present. In fact, Taylor Swift’s appeal, to many people, is not surprising. It is not only because the American singer and songwriter has set a record with 14 Grammy Awards, but also because of the value she brings to businesses and localities when Taylor Swift appears. The nature of relationships between individuals, individuals and organizations, between organizations, even between countries… is a relationship of value.

Taylor Swift is the first female singer to join the world's billionaire club through singing alone. Photo: Getty Image

Wherever Taylor Swift appears, there is excitement. Money flows there and brings great value. When Taylor Swift chose Spain and set the date, Real Madrid in particular and La Liga as well as Spain in general understood the commercial importance through The Eras Tour. In Lisa's case, the appearance of the K-Pop female artist at Taylor Swift's concert in Singapore also brought prominence to this young Thai artist. It attracted the attention of netizens and the media. In February, according to Melbourne Mayor Sally Capp, after only 3 nights of performing in Melbourne, Taylor Swift brought Australia 790 million USD from consumer spending because of this event. In 2023, Taylor Swift is said to have brought a 5 billion USD boost to the US economy after the Eras tour starting in March 2023 with 53 sold-out shows in 20 cities. This may be the reason why Time Magazine, for the first time in history, awarded the title of "Person of the Year" to an entertainment star in 2023, because Taylor Swift is not an ordinary entertainment star. Swift's success has reached a level that few international pop stars have achieved. The Eras Tour is her biggest tour ever with 146 performances across 5 continents, lasting until the end of 2024. The 146 shows of The Eras Tour not only bring in huge revenue but also contribute to economic growth at the destinations. As for Singapore, according to Globaledge, the island nation wants to take advantage of the Taylor Swift event to raise the national image, wanting the island to become an ideal destination for entertainment activities from all over the world. Currently, Singapore's tourism industry has only recovered 80% compared to pre-pandemic levels.

According to estimates from officials and some Singaporean organizations, about 70% of the visitors to the show were foreigners. Photo: Straits Times.

The Singaporean government spending several million dollars on a Taylor Swift concert is considered a bargain, bringing in about 500 million dollars to Singapore's tourism industry and long-term values. This is also something that makes the Thai tourism country regret. In the summer of 2023, the US Federal Reserve (Fed) published a study and viewed the Taylor Swift phenomenon as an economic theory - Swiftonomics. Taylor Swift's "The Eras Tour" performances are said to bring hundreds of millions of dollars to the locality. According to estimates by Singaporean officials and some organizations, about 70% of the audience are foreigners. The spread after the event is huge. This could be a lesson for countries with economies oriented towards strong tourism development.
Taylor Alison Swift (born December 13, 1989) is an American singer and songwriter. Her diverse artistic style, songwriting ability, social activities and business thinking have greatly influenced the music industry, popular culture and politics. According to Forbes, Taylor Swift's net worth accelerated dramatically in 2023 and surpassed the $1.1 billion mark. This figure proves that the "snake queen" is the first female singer to join the world's billionaire club thanks to her singing career. Taylor Swift's assets mainly come from music business and touring. Most notably, the singer has "made a fortune" thanks to the unimaginable success of The Eras tour. The Washington Post estimates that Swift's earnings from her singing career after the end of the Eras tour will reach more than $4 billion. This is something that no star has ever done in music history before.

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