Taylor Swift's influence sends Lisbon's economy soaring

Taylor Swift's influence sends Lisbon's economy soaring

Taylor Swift's concerts at Estádio da Luz created a significant economic impact during the weekend of May 24-26, especially in the hotel sector and tourism activities in the Lisbon area, which increased by 22% compared to the previous weekend. Americans, Irish, English, French and Spanish spent the most money in the Lisbon area during the period analysed.

The data comes from Redonic Insights, report from Redonicintroduced as the largest national network of domestic and foreign card acceptance and brandingUniker. According to the analysis, transactions (+49%) and foreign card sales volume (+34%) increased in Lisbon on the day of the North American singer's debut, May 24, compared to the previous Friday.

The municipalities of Lisbon, Oeiras, Cascais and Llores recorded an increase in the number of foreign transactions by 52%, 44%, 42% and 39%, respectively. Regarding the volume of foreign sales, these same municipalities recorded growth of 38%, 28%, 12% and 10%, respectively.

Analyzing two days of concerts, Redonic concluded that the turnover of foreign tickets in Lisbon, Oeiras, Cascais, Sintra and Lloris increased by 14%, 14%, 11%, 10% and 5%, respectively, compared to the previous weekend. In the case of Lisbon, in particular, visitors from the United States (11%), Ireland, the United Kingdom, France and Spain had the heaviest weight in the total revenue recorded.

“On this list, almost everyone increased their revenue compared to the previous weekend, except for France. US revenue was up 56%, Ireland was up 30%, UK was up 56%, Ireland was up 30%, and US was up 15%.” and Spain by 78%.

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The period from May 24 to 26 represented a 22% increase in the turnover of the hotel sector and tourism activities in the entire Lisbon region compared to the previous weekend. Here too, foreigners had the heaviest weight (24%).

In the municipality of Lisbon, where the concerts were held, the most economically growing activities are perfumery and pharmacy, with increases of 61% and 54%, respectively. The hotels and tourism sector grew by 29%, while the restaurants sector grew by 23%.

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About the Author: Irene Alves

"Bacon ninja. Guru do álcool. Explorador orgulhoso. Ávido entusiasta da cultura pop."

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