A new report indicates that Taylor Swift concerts in Toronto boosted spending in the leisure and entertainment sector, but the overall impact on Ontario’s economy remained modest.
A spending analysis from TD Economics shows one category in the province in particular – leisure and entertainment – saw a “remarkable” 15 per cent year-over-year increase in November.
The report said that sectors commonly associated with such events, including travel, hospitality, apparel and accessories, showed growth at the upper end of their usual range, but did not reach “extraordinary” territory. “.
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The services sector remained within a typical growth range, which could be driven by broader consumer sentiments rather than gigs.
Pop singer Taylor Swift’s concerts took place for six days in Toronto, over two weeks, and were highly anticipated to increase consumer spending.
TD Economics says its analysis included a comparison of year-over-year changes for the specific days Taylor Swift performed in Toronto and for the month of November as a whole, but does not include the impact international visitors.
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