How to Make Swift Money: The Power of Swiftonomics – MoneyMagpie

Annie



15th May 2024

Reading Time: 6 minutes

She’s everywhere and we all know her name: Taylor Swift is one of the biggest names on the planet and a HUGE global celebrity. So much so that there’s a new term – Swiftonomics – that describes the phenomenon for her impact on local economies (and beyond) wherever she goes on tour. Let’s dive in to learn more about this fascinating financial bubble – and see how you could make money from being near a town on the Swift tour.

Swiftonomics Explained

Make Swift Money: Rent a Room

Make Swift Money: Rent Your Driveway

Make Swift Money: Make Friendship Bracelets

Offer to Pet Sit

Make Swift Money: Get Social

Make Swift Money: Grab a Promotional Job

$17million EVERY PERFORMANCE. Over 4.3million tickets have already been sold in the US since the start of the tour – and now she’s going worldwide. Now, of course most of that is profit for the venue and for Taylor Swift – but the knock-on effect of sellout events at venues with tens of thousands of people has a macro-impact on the local economy around each stadium.

There will be an estimated $5bn (yes, BILLION) of consumer spending worldwide thanks to Taylor’s tour. This covers everything from hotels to taxis and other transportation, to restaurants and hospitality venues, even to merchandise. When Swift comes to town, the local economy booms.

This isn’t an entirely new thing – the Rolling Stones used to be ‘the only show in town’ with everyone talking about it, hotels fully booked, and the local hospitality industry thriving. But in today’s world of social media, the megastars are truly huge – it’s not just Taylor, either. The Beyonce Effect is credited with a noticeable and traceable 9.7% boost to Sweden’s economy in May 2023.

So, how can you make the most of being near to a Taylor venue in the coming months?

sporting fixture is on. Platforms such as Air BnB are the obvious route for anyone planning to regularly rent out their space for concert goers, but if you want to start off with just the Swifties then it’s worth promoting on your social media platforms to let friends and friends of friends know that you have a space available.

There are some risks to renting out your whole house – you won’t be able to control noise or damages – but you can get a much higher fee for doing so. Advertising through a platform like Air BnB or Booking.com also gives you some protections from difficult customers. The flip side of this is staying in the house and renting out rooms – you need to put up with disruption to your usual routine, but can ensure your guests are well-behaved. There is a security issue letting strangers into your home, so secure valuables out of sight and try to not be alone in the house with your new guests.

rent out your parking space for some quick cash!

Use a platform like JustPark or Park Let to promote your parking space. These platforms take a small fee of a booking, but make it really easy to reach thousands of people looking for parking in your area. Again, this is particularly ideal if you have a spare space and live near to a stadium as you could make cash every time someone big comes to perform. Check the rates for parking closest to the stadium, by hour and overnight, and set yours a little lower to make sure you look like a good deal!

how to become a pet sitter and make extra money while enjoying the benefits of being around animals.

ocial media influencer (or want to be one) making money from your social content, because it’s the type of video and photo media that could quickly go viral.

If you want to be a TV presenter, it’s a great calling card to practice your interview skills, too! And local TV and newspapers will also be on the lookout for unique photos and clips of the huge event that is a Taylor Swift circus (and the Swift fandom) which could net you some cash, too.

Find a Promotional Job

You’re not the only one who wants to make the most of Swiftonomics and earn extra cash while she is in town! Your local restaurants, pubs, bars, and shops will want to take advantage of the huge increase in footfall. Offer your services for temporary promotional staff – handing out flyers with exclusive offers, posting on local social media about deals, and helping businesses tap into the Swift crowds.

These are just some of the ways you could make money with Swiftonomics – can you think of any others? We’d love to hear your ideas in the comments section!