US Pop Singer Taylor Swift was a recent sensation in Canada because of her concert that took place in toronto. People had gone haywire to get tickets for this event.
Social media was flooded by the curiosity and thrill to trend this concert. Being one of the current stars of the music industry, markets are often affected by the trends they create. Not only in social media, but also in real life, the economy and markets are moved by small gestures of such public figures.
Many people have come forward to speak against this trend by labelling this as too crazy to be normal. Statements such as “people should be so naive and run towards such programmes as they don’t mean anything to society other than entertainment”.
A similar incident occurred recently in india, when the popular artist and DJ Cold play conducted a concert in India. A similar fan frenzy occurred there. Though the concert was considerably smaller than Taylor Swift’s, it’s the first of a kind situation happening in an underdeveloped country like India.
During Coldplay’s concert, it is estimated that an amount of 1-2 billion Indian rupees was estimated to flow in through the market creating a spike in the Indian economy. This is approximately equivalent to 24 million US Dollars.
However, since Taylor Swift ‘s program was in Toronto, the heartbeat city of the capital province of the nation, the amount of money flowed is not that small.
It is estimated that Taylor Swift’s concert made a flow of money equivalent to 280 million US Dollars. The Canadian economy flourished like a boom just with this event.
Though many backlashes and memes criticised the frenzy created by such a program, it evidently boomed the Canadian economy and filled the market with a flow equivalent to 280 million US Dollars, which isn’t a small amount but a significant contribution to the Canadian GDP.