NAB data has revealed that the seven Taylor Swift concerts in Melbourne and Sydney generated more than $300 million for Australian economy, with fans providing a huge uplift to revenue for bars and pubs.

Swift fever gripped Sydneysiders last weekend, with an estimated $135 million boost in spending recorded at businesses including bars and clubs in Sydney’s inner suburbs across a four-day period (23 to 26 February), the NAB data has revealed.

[Drinks Digest suspects the first weekend of Sydney Gay and Lesbian Mardi Gras may also have played a major role in the uplift.]

NAB merchant terminal data shows this is a 20% increase in spend when compared to the month prior, with an estimated $33 million poured into the city’s accommodation, hospitality, and tourism sectors.

The data also revealed businesses around the Sydney CBD were the big winners:

• General merchandise stores up 117%
• Accommodation up 72%
• Bars and pubs up 49%

NAB Executive for Business Metro and Specialised Julie Rynski said: “While Taylor declared Melbourne the love of her life after her three nights at the MCG, Sydney certainly made her think twice over the weekend by taking Tay Tay fever to the next level.

“From hotel rooms to heaving restaurants, merchandise stands to packed pubs, her four Sydney gigs created a buzz in the city not seen since before the pandemic.

“The cultural and economic impact of her seven, sold out, Melbourne and Sydney shows will last long in the collective memory, while businesses across both capital cities can be very thankful for the “Taylor effect”, which has helped spark a late summer spending spree.

“There’s no doubt businesses and consumers have had a difficult last 12 months or so, but despite this, it’s clear people are continuing to carefully evaluate and prioritise their spending on the things or experiences they truly value.”

In Melbourne, NAB merchant terminal data for 16-18 February showed a 33% increase in spend when compared to the month prior, with an estimated $86 million poured into the city’s accommodation, hospitality, and tourism sectors.

The data revealed businesses around the MCG precinct were the big winners:

• Accommodation up 238%
• Bars and pubs up 146%
• Restaurants up 99%
• Clothing stores up 67%

Hoteliers reveal impact of Swift fans

In addition to bars and clubs, Sydney hotels enjoyed a record-breaking weekend during the four concerts by Swift, with many reporting occupancy levels of between 90% and 100%.

“Hotel results in Sydney over the weekend were higher than anything we’ve seen since the Sydney 2000 Olympic and Paralympic Games,” Accor Pacific Chief Operating Officer PM&E Adrian Williams told Hotel Management.

Accommodation Australia CEO Michael Johnson said: “Based on past calculations, her shows can inject between $150 and $200 million to a state’s economy, just as we saw in Melbourne.”