usinesses in Lisbon positively impacted by Taylor Swift concerts.
According to the report, the two concerts by Taylor Swift in the Lisbon district, at the Estádio da Luz, boosted business revenue.
Taylor Swift's concerts boosted business revenue in Lisbon.
American artist Taylor Swift debuted on May 24 and 25, selling out both concerts at Estádio da Luz in Lisbon. But how did her visit translate into business revenue? The REDUNIQ Insights report, quoted by Notícias ao Minuto, indicates "a positive impact on the performance of businesses in the district of Lisbon."
The report also states that the two shows “resulted in a significant increase in revenue from foreign cards, with businesses in the district experiencing a 34% growth on Friday (the first day of the concert) compared to the previous Friday”. “The increase in the number of foreign transactions between that same day and the previous Friday was even more significant, with a variation of 49%”, as read in the shared news article.
More specifically in the municipalities of Lisbon, Oeiras, Cascais and Loures, there was also a growth in the number of foreign transactions of 52%, 44%, 42% and 39%, respectively. Regarding foreign billing, "the same municipalities saw increases of 38%, 28%, 12% and 10%, respectively", according to the cited numbers.
In sectoral terms, it can also be verified that "in the municipality of Lisbon, the highlight was for the sectors of pharmacies, hospitality and tourism activities, perfumeries and restaurants, which had foreign turnover growth of 54%, 29%, 61% and 23%, respectively, compared to the previous weekend," explains the news.
Regarding the hotel and tourism sector, in the entire district of Lisbon, during the concert weekend (May 24th to 26th), "there was a 22% growth in revenue compared to the previous weekend." Noting that foreign revenue "was the biggest contributor to these numbers, as its growth was 24% compared to the previous weekend," concludes the statement, according to Notícias ao Minuto.
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