JAKARTA - Taylor Swift shocked Europe to make some experts estimate the economic windfall as fans flock to watch dozens of shows whose tickets sold out from Dublin to Vienna and beyond.
Taylor Swift, along with the Olympics in France and the Euro 2024 football championship in Germany, is expected to provide assistance to the continent that has just gone through a recession over the past two years and is heavily lagging behind the United States.
But there is one problem: "Swiftonomics" is actually not real.
He may be a superstar who revolutionizes the music industry, but once his excitement subsides, you'll need a large glass to see the economic benefits.
Take Stockholm for example. Nearly 180,000 fans attended three shows in May, with half of them coming from abroad and generating turnover of nearly 850 million crowns (81 million US dollars) for the city.
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This is a major achievement in three days for Stockholm, but is a decline for Sweden's medium-sized economy, which ranks eighth in the European Union with an annual output of 623 billion US dollars.
"This additional turnaround is a big boost at the weekend for Stockholm and particularly the tourism sector," said Carl Bergkvist, Chief Economist of the Stockholm Chamber of Commerce in a Reuters review on Thursday, June 27.
But that's the only weekend, with no visible or significant impact on overall economic growth.
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