If it were up to Taylor Swift, the Euro would cost 2.79 PLN, the Swiss franc would cost 2.59 PLN, and the British pound – 3.88 PLN. These values result from an analysis of the prices of her concert tickets in different countries. Taylor Swift is set to perform in Warsaw between the 1st and 3rd of August, and her concert tickets in Poland are the cheapest in Europe.
For years, the “Big Mac Index” has served as an indicator of living costs and purchasing power in different countries worldwide. But perhaps it’s time for a more contemporary comparison: we present the “Taylor Swift Index.”
From the 1st to the 3rd of August, Taylor Swift, a renowned American singer, will perform in Warsaw. The phenomenon surrounding her is not only being covered by the media but also by economists – there’s even a term, “Swiftonomics,” reflecting the impact of her concerts on the economy. Since the singer performs in many countries as part of The Eras Tour, the prices of her concert tickets could be an instrument for assessing the real value of currencies.
Like the prices of Big Macs at McDonald’s, the prices of Taylor Swift concert tickets vary by country. In our analysis, we considered only one ticket category, which seemed most homogeneous, even though concerts are held in different stadiums. These are the tickets for the field right under the stage.
The price of such a ticket for a concert in Warsaw is 669 PLN, while for shows in Germany – in Hamburg and Gelsenkirchen In late July this year, the tickets cost approximately 240 euros. This price ratio suggests that the Euro should be priced at 2.79 PLN, i.e., 35% below the current rate (4.29 PLN). Considering Vienna’s Austrian prices (concerts will be held from the 8th to the 10th of August), the difference would be smaller because there, a ticket under the stage costs 179.80 Euro. This means that we should pay a more realistic 3.72 PLN for one Euro.
In Zurich (concerts on the 9th and 10th of July 2024), a ticket for a Taylor Swift show under the stage cost 258.50 CHF. This means that in the context of the price in Warsaw, the cost of one franc is 2.59 PLN, which is 42% less than the current rate of 4.49 PLN. In August, the American singer will also perform in the UK at three concerts in the Wembley stadium in London. There, fortunately, a ticket for a place under the stage could be purchased for 172.25 pounds, which suggests that the real value of the pound, according to the ticket price, is 3.88 PLN – almost 24% below the current rate of 5.09 PLN.
At most of the European concerts, the stage is divided into two categories – regular and premium, positioned under the stage, along the podium, where the singer moves. In the USA, however, there are many different ticket categories, which prompted us to resign from analyzing American ticket prices. Another factor influencing this decision is the controversial dynamic ticket sales system. This system adjusts the price to the demand, causing Taylor Swift’s concert ticket prices to skyrocket. This is one reason why many Americans come to watch her concerts abroad. Our analysis indicates that the prices for her concerts in Warsaw may, particularly, attract a large audience as the ticket prices are the lowest in Europe.
eToro analyst in Poland, Paweł Majtkowski
Source: https://managerplus.pl/indeks-taylor-swift-ceny-biletow-na-koncerty-jako-nowy-wskaznik-ekonomiczny-81362
