Taylor Swift boosts European economy, according to BofA data | World | Trends | Taylor Swift | Bank of America Corp | Eras Tour | Federal Reserve | | the world

Bank customers a 22% And during the singer’s stay in Paris this month, Preferred Bank president Aaron Levin said in an interview. Swift performed in the French capital from May 9 to 12, just as the increase in spending was recorded.

“There will be no other explanation.”Levine said other European cities can expect a similar boost as fans flock to upcoming tour dates in cities like London, Milan and Vienna. “It will give a boost to the European economy.”

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Cities around the world are reaping the economic benefits as consumers flock to live entertainment and experiences. Taylor Swift’s concerts in Pittsburgh last June saw a significant increase in spending compared to other months, while the Federal Reserve Bank of Philadelphia said the tour helped boost travel and tourism in the region.

Globally, Bank of America increased spending in between 3% and A 4% Even though the maximum account balances set a year ago during the pandemic have fallen, says Levin, a member of Bank of America’s executive management team that oversees more than 30,000 bank employees and financial settlement advisers. The executive focuses on high-net-worth consumers who use multiple products such as credit cards, mortgages, investment services and bank accounts.

Last week, CEO Brian Moynihan said U.S. consumer spending remained healthy, fueled by wage growth even amid higher interest rates. “AndThis demonstrates the resilience of the American consumer. Moynihan said in an interview with Bloomberg Television.

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