The economy of Indianapolis may receive up to $100 million from Taylor Swift’s Eras Tour

Indianapolis, Indiana – Singer-songwriter Taylor Swift’s “Eras Tour” may contribute up to $100 million to the Indianapolis economy, according to a Ball State University economist.

Next fall, Swift is scheduled to perform three times at Lucas Oil Stadium.

At Ball State University’s Center for Business and Economic Research, Dagne Faulk oversees research. Swift’s three gigs might generate up to nine figures in income to central Indiana, according to an approximate estimate by Faulk.

“It’s probably going to be in the upper 10s of millions of dollars,” Faulk said. “Maybe even closer to $100 million or so would be my back-of-the-envelope calculation.”

This kind of large-scale event is made for Indianapolis. For the first weekend in November 2024, some hotels are already listed as sold out, while others only accept reservations one year in advance. Despite the fact that ticket sales don’t begin until Friday, one hotel manager told News 8 that they have already noticed a rise in demand.

“I expect all the downtown hotels will probably be sold out,” Faulk said.

The director of the research center says that the economic impact will go beyond hotel stays and ticket sales. Restaurants, shops, and local transit will gain.

“There’s likely to be a massive inflow of people into downtown Indianapolis to see the concert so that should have an effect on hotel stays, the restaurants, all the local businesses,” Faulk said.

She claims that major events like this bring in visitors from outside the area and increase local tax revenue.

“That brings money from outside the region into Indianapolis,” Faulk said. “So that’s a big boost to local revenues, in terms of revenues to local business but also tax revenues.”

The event is being hailed by Indianapolis Mayor Joe Hogsett as a victory for the already successful 2024.

“We are excited to host Taylor Swift and her loyal fans here in 2024, demonstrating along the way why Indianapolis is the top host city in the country,” Hogsett, a Democrat, said. “Building on last week’s groundbreaking on Pan Am Plaza and yesterday’s announcement of years of continued partnership with Gen Con, this news indicates the continued success of our strategy to make Downtown Indianapolis a great place to live, work, and play.”

Jefferson Shreve, a Republican running against the incumbent mayor in the November election, welcomed the “Eras Tour” to Indianapolis.

“What a terrific opportunity for Indy. I’m thrilled for our hotels, restaurants, and businesses,” Shreve said. “It’ll be a fun time to shine as a city and put on a show for those visiting from across the U.S.”