Taylor Swift's Eras Tour predicted to promote U.K. economy by £1 billion

Taylor Swift’s Eras Tour is predicted to bring a windfall for the U.K. economy of around one billion pounds.

Barclay's, a British bank, estimates the tour's 15 sold-out shows will inject a whopping £997 million ($1.26 billion) into the economy. 

Fans are expected to spend an average of £848 per person, which is more than 12 times the cost of a typical night out in the U.K. 

Accommodation, travel, and concert attire will add to the spending spree – and nearly 20 percent of fans plan to buy a new outfit just for the occasion.

London, Liverpool, Edinburgh, and Cardiff – the four tour stops with official merchandise – can expect a boost in sales.

The impact goes beyond just pounds and pence. Dr. Peter Brooks, a behavioral scientist at Barclay's, compares the phenomenon to past fan crazes.

“There's growing evidence that spending on experiences boosts happiness more than physical items, especially if shared with loved ones,” Dr. Brooks said. “For Swifties, the Eras Tour is an investment in memories.”

Swift's global popularity shows no signs of waning. Her eleventh studio album, “The Tortured Poets Department,” surpassed 2 million dollars in US sales last week.

A recent track-by-track experience on Amazon Music, featuring Swift’s commentary on songs from her latest album further solidified her connection with fans.