As Saskatchewan’s major cities debate the pros and cons of building or renewing infrastructure related to major events, here’s some new research that may help in the decision-making process.
TD Bank has undertaken a breakdown of how the six Taylor Swift Eras tour concerts in Toronto impacted the local marketplace. And it was noticeable.
But not that noticeable.
This study may actually have some fodder for both sides in the should-we or shouldn’t-we build new arenas in both cities as well as event magnets such as aquatic centres.
First of all, Taylor Swift’s impact on Toronto was especially noticeable for those in the hospitality sector. Revenues for hotels as well as restaurants and bars rose by 15-percent over what we’d consider normal for the corresponding weekends in Toronto and twice the growth seen across the rest of the nation.
But those numbers were still within the top end of the range considered normal. So, technically, it might just be coincidental with regular consumer exuberance but this is hardly a year for run-of-the-mill exuberance.
