This is not the first time a government agency has credited Swift with boosting local business. The document is published before the Federal Reserve committee meeting in which monetary policies, like interest rate decisions, are discussed. 'Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city,' the officials wrote.Įight times a year, the Beige Book compiles summaries of how the economy is doing in different parts of the United States. The central bank on Wednesday released its Beige Book, in which Philadelphia Federal Reserve officials reported hotel bookings r ose, showing the strongest growth since the beginning of the pandemic, thanks to Swift's show dates.
