Eras Tour proves to be a “Love Story” for local economy

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  • Spend in metro Melbourne between 16-18 February was up by an estimated $174 million (+33%) compared to the month prior
  • An estimated $86 million was poured into the city’s accommodation, hospitality, and tourism sectors
  • Owner of cookie shop ‘The Confectionist’ Georgia Chiarella said her pop-up shop in Richmond was inundated with fans as they made their way to the MCG

Taylor mania led to an enchanted weekend for businesses in Melbourne’s inner suburbs, with an estimated $174 million boost in spending across three days (16 to 18 February), new NAB data reveals*.

NAB merchant terminal data shows this is 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, provided by Australia’s largest business bank, also reveals businesses around the MCG precinct were the big winners:

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

NAB Executive for Business Metro and Specialised Julie Rynski said the superstar’s reputation not only had fans up out of their seats, but Melbourne’s economy was also dancing to a strong beat.

Eras Tour themed cookies from NAB business customer, The Confectionist.

“Taylor was certainly the cheer captain for businesses across the city. From sold-out hotels to bustling restaurants, the economic boost that follows is tangible,” Ms Rynski said.

“The tour has attracted fans from across the world. And it’s not just about the event itself, but the entire experience – dining before a show, shopping for merchandise and exploring the city’s vibrant nightlife.

“We know many Australians have pulled back on discretionary spending, but this is the perfect example of Aussies saving their hard-earned cash for the things that matter to them.”

Owner of cookie shop ‘The Confectionist’ Georgia Chiarella said her pop-up shop in Richmond was inundated with fans as they made their way to the MCG.

“We have our factory in Altona North that caters for our online store, we decided to open a weekend pop-up shop near Richmond Station selling Eras Tour themed cookies. Each day was a sell-out.

“There was an exciting vibe in the air all weekend, we’ve even seen people hang around the area hoping to catch a glimpse of the singer,” Ms Chiarella said.

 

Notes to editors:

  • *Estimates taken from spend at NAB merchant terminals in metro Melbourne between 16-18 February 2024 vs 5-7 January 2024
  • MCG Precinct classified as Cremorne, Richmond and East Melbourne

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