The Eras Tour: The Taylor Swift phenomenon fills inns in Madrid and triples practice costs | Economy | EUROtoday

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Taylor Swift goes to revolutionize Madrid with the 2 live shows she goes to supply on May 29 and 30 on the Santiago Bernabéu stadium. With all of the tickets offered and with greater than 130,000 confirmed attendees, resort chains, bars and eating places, each within the space close to the Real Madrid stadium and in different neighborhoods, are rubbing their fingers with the money they’re going to make in these 48 hours .

The injection to the Madrid economic system goes to be a lot larger than that acquired in different mass occasions. And the primary beneficiary would be the resort trade, which earlier than the 2 live shows is already experiencing the sweetest second in its historical past, with reservations and costs at historic highs. The Madrid Hotel Business Association (AEHM) estimates that the inns' revenue in these two nights might be shut to twenty million euros, which represents earnings of seven,000 euros per minute, with common charges that would triple or quadruple regular costs. . “These large-scale concerts have a significant impact on the Madrid hotel sector. Not only do they guarantee high occupancy for our hotels, but they also drive economic growth by energizing sectors such as restaurants, commerce and transportation, generating employment and thus strengthening the local economy,” highlights Mar de Miguel, govt vp of AEHM.

An excellent instance is Minor Hotels Europe & Americas (previously NH), which has 23 inns within the Madrid capital. Some of them, just like the NH Collection Madrid Eurobuilding or the NH Madrid Paseo de la Habana, a number of meters from the stadium. “The growth in hotel occupancy so far in May is 22%. Coinciding with the two Taylor Swift concerts, the increase is 50%. Being Wednesday and Thursday, the expected demand would be for corporate and business tourism, so it seems evident that the increase is mainly due to concerts,” the corporate emphasizes. These identical sources emphasize that this constructive influence just isn’t solely restricted to Madrid, for the reason that singer can be going to carry out in July in Amsterdam, Milan or Munich, cities by which the corporate additionally has belongings.

Hotels removed from the Bernabéu space are additionally benefiting from the Taylor Swift phenomenon. This is the case of the Balearic Palladium, with three belongings (one from the Bless model and two from Only You), which confirms occupancy charges which might be round 80% for the times of the live performance. “These are very positive figures that demonstrate the tourist relevance of Madrid as a cultural destination and that place the capital as a musical benchmark thanks to the hosting of important events like this one. Without a doubt, we believe that the organization of concerts at the New Bernabéu Stadium is having a positive impact on hotel occupancy in the city, which is great news,” they clarify.

The footprint of live shows transcends past inns and splashes into bars, eating places, trains and street transport. The Madrid Hospitality affiliation estimates that every live performance attendee will spend a median of 20 euros per individual within the hospitality institutions across the stadium. To get to Madrid, aside from air journey for foreigners, probably the most used modality can be transport by practice and street. A report ready by the Trainline app confirms that the variety of passengers who’ve purchased tickets to take the high-speed route from Seville has tripled, whereas it has doubled within the case of these from Valencia and Barcelona.

The ride-sharing platform BlaBlacar additionally foresees uncommon enterprise progress through the two days of the live performance, with greater than 20,000 journeys to Madrid by shared automobile. “The main places of origin are Valencia, Seville, Murcia, Granada and Zaragoza. The average price of these trips is 19 euros and the average distance traveled is 381 kilometers,” the corporate says.

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https://elpais.com/economia/2024-05-24/el-fenomeno-taylor-swift-revolucionara-la-economia-madrilena-en-tan-solo-48-horas.html