Earning $1,500,000,000 in a Single Tour, Is Taylor Swift the Next Michael Jordan for the US Economy?

NBA legend Michael Jordan has become a benchmark for greatness in the U.S. with his other-worldly achievements on and off the court. Whenever a young talent shows flashes of greatness, they are immediately compared to the 6x NBA champion. Very few have consistently performed enough at the highest level to be in the same bracket as MJ. Most fans would argue current players like LeBron James and Stephen Curry can be compared to Jordan because of their accomplishments. But can someone from the entertainment industry like Taylor Swift be compared considering his impact on the economy?

It is no secret that Taylor is one of the most popular artists in the world thanks to her incredible music. With some massive hits over the years, she has become a leading cultural figure.

The massive impact of Michael Jordan

Michael Jordan currently has an estimated net worth of $2 billion despite only making $90 million in NBA salary. With his superstardom, Jordan earned his fortune from endorsements and investments. However, he wasn’t only making money for himself. Besides his contribution to charity, MJ also helped many and, in particular, the economy indirectly.

When Jordan came into the league in 1984, Magic Johnson and other superstars had already dug out the NBA from the depths of despair. Magic and the Showtime Lakers, Larry Bird and the Boston Celtics, and others helped popularise the league and bring people to the arena. However, there was still a major room for improvement. But very few realized a young kid from Wilmington, North Carolina, would be the one to take the league worldwide.

Jordan took the league by storm in his rookie season and did not look back. He challenged some of the most prominent names at the time and became the biggest star. The Chicago Bulls legend was good for business. His superstardom popularised the game globally. Furthermore, it led to an increase in ticket sales, television rights fees, television ratings, the sale of NBA-licensed objects, etc.

Also, Nike and other brands endorsed by the five-time NBA MVP racked up sales. The profits earned by every stakeholder associated resulted in more players signing massive contracts. Ultimately, according to a report from Deseret News, Jordan had a $10 billion impact on the U.S. economy from 1984 to 1998. Interestingly, even the total value of all 29 teams at the time was just over $6 billion.

Taylor Swift’s Impact on the U.S. Economy

Anyone would find it hard to compete with the economic impact of Michael Jordan during his prime. So can Taylor Swift hold her own? Apparently, she can. She recently became the second richest self-made woman in music, with an estimated net worth of $740 million. Her fortune is expected to grow as she continues her Eras Tour. According to a report from Forbes, Taylor is estimated to bag as much as $1.5 billion from the tour if the average ticket price is $700. Notably, Ticketmaster crashed when tickets went on sale last year.

Similar to Jordan’s impact, Taylor is not just making a fortune for herself but also helping the economy. As per a report from NBC News, Eras Tour is boosting the U.S. economy by helping the tourism industry. The report noted that officials from Philadelphia, Cincinnati, and Chicago have already credited Swift’s tour for generating millions of dollars in the form of hotel bookings, restaurants, and local attractions. However, the tour is expected to garner around a whopping $5 billion according to a report from CBC News.

The report sighted online research, which took into account fans’ expenses of flight tickets, hotel costs, concert tickets, etc. The research forecasted that the Eras Tour will generate $5 billion, helping the U.S. economy massively. When Jordan’s $10 billion from 1984 to 1998 is adjusted for inflation, it would be around $18 billion today. So if Taylor Swift could continue her impact on the economy, she could no doubt emulate MJ’s effect.