Spending rises swiftly as the Taylor effect hits Dublin

The latest Bank of Ireland Spending Pulse, which analyses debit and credit card spending, reveals the economic impact of Taylor Swift’s three day of concerts in Dublin last weekend.

Analysing June 27-30 card spend before the weekend before, Bank of Ireland said that spending among 13 to 17 year olds soared by 63%, while outlay amongst 18 to 25-year-olds spiked by 25% and by 30% amongst the 26 to 35 cohort.

Beauty spa spending was up 34% as “Swifties” got ready for their big night out, while spending on Spotify streams increased by 20, and record stores recorded a 19% spending boost.

Meanwhile, total social spending across Dublin in pubs, restaurants and fast food rose 13% compared to the previous weekend.

Toll fee spending across the country’s motorway network spiked by 20% as people travelled from all four corners to attend the concerts, along with other events in Dublin including the Longitude Festival, Shania Twain at Malahide, the Dublin Pride Parade, the family-friendly Kaleidoscope Festival and big matches at Croke Park.

The busy weekend in Dublin saw outlay on taxis rise by 8% and bus lines recording a 5% increase.

Owen Clifford, Head of Retail Sector at Bank of Ireland, said the impact of “Swiftonomics” has been seen worldwide.

“A capital city event becoming the focus of national attention shows the range of her appeal, and the latest card spending insights reveal that her fans embraced the occasion and splashed out accordingly,” he added.