Barclays says Taylor Swift fans are expected to spend over $1,000 on average to see the singer on the U.K. leg of her Eras Tour.
"Swiftonomics" is used to describe the economic influence of the musician, as fans flock to her shows around the world.
Taylor Swift's Eras Tour is set to provide a £997 million boost to the U.K. economy, according to Barclays, which predicts fans will spend an average £848 to see the singer. The bank also expects ticket-holders to splash out an average of £79 on official merchandise on the U.K. leg of the Eras Tour, which kicks off in June. That's along with £59 on a meal before the concert and an additional £216 on other costs, including drinks and vinyl records.
"When it comes to cultural icons like Taylor Swift – like we saw with Elvis and Beatlemania in the 50s and 60s – supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful," said Peter Brooks, a chief behavioral scientist at Barclays.
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