Singapore reportedly paid the singer £2.4m a show to host her Eras tour, causing dismay in Thailand and the Philippines
Congratulations are in order for Taylor Swift, who makes her Forbes Rich List debut this year as one of the world’s newly minted billionaires. Not content with inspiring her own branch of economics – Swiftonomics, FYI – the singer is also responsible for causing geopolitical tension in south-east Asia, with her record-busting Eras tour.
The financial value of a Swift gig is of such national importance that Singapore reportedly paid her up to $3m (£2.4m) a show to ensure it was the only place to host Swift on her jaunt to the region this spring, prompting complaints from Thailand and the Philippines. In the words of one Filipino politician: “[It] isn’t what good neighbours do.” If $3m sounds like an awful lot to secure a concert exclusive, that’s small change when you consider the benefits – it’s estimated that her six shows have boosted the Singapore economy by $370m.
Singaporean government ministers aren’t the only ones looking at Swift with dollar signs in their eyes. With the singer en route to Britain this summer, hotels and Airbnb landlords here have hiked their rates accordingly. A Swiftie friend of mine is considering paying £419 for a bed in Edinburgh at the Holiday Inn. Call it dynamic pricing, or just plain old daylight robbery.
