Taylor Swift, ‘Barbenheimer,’ and Beyoncé: How They Contributed to a Recent US Economic Boom, According to an Economist

The third-quarter economic surge, which can likely be attributed to Taylor Swift, Beyoncé, and the “Barbenheimer” phenomenon, as reported by ING, remains plagiarism-free. In a recent research note from the Dutch banking group’s chief economist, it was estimated that the US Gross Domestic Product (GDP) experienced a substantial 4% year-on-year growth during the three-month period ending on September 30.

The strong economic performance was also supported by the September Non-Farm Payrolls report, which indicated the addition of a better-than-expected 336,000 jobs in the previous month, signifying a healthy economy.

According to the chief economist, James Knightley, the robust employment figures align with expectations of strong third-quarter GDP growth. Knightley further commented that it wouldn’t be surprising to see a 4% annualized expansion, with Taylor Swift, Beyoncé, and the Barbenheimer trend contributing to this growth. The leisure and hospitality sector alone saw the addition of 96,000 new jobs in September, driven by the high demand for concert tickets and successful movies, reviving the US box office from its post-pandemic slump.

Estimates by research company QuestionPro suggest that Swift’s “The Eras Tour” grossed $2.2 billion and generated $4.6 billion in consumer spending. The Federal Reserve also acknowledged the economic impact of Swift’s concerts, with the central bank noting the boost in hotel revenues in Philadelphia in its May Beige Book report.

Taylor Swift Eras Tour dates

Additionally, estimates from Bloomberg Economics anticipate that the combined contributions of “Eras” and Beyoncé’s “Renaissance World Tour” will add $5.4 billion to the US’s third-quarter GDP. The “Barbenheimer” moviegoing trend, referring to the successful releases of “Barbie” and “Oppenheimer” on the same day in the US, is estimated to contribute another $3.1 billion to the economic growth.

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