Taylor Swift boosted recovery in the volume of services, says IBGE

The shows on American singer Taylor Swift's tour in Brazil in November contributed to a 2.2% increase in the services sector in 2023. The survey was released this Tuesday (16 January 2024) by IBGE (Brazilian Institute of Geography and Statistics). Here's the complete of the study (PDF – 1MB).

The family services sector benefited most from the singer's performances. According to IBGE data, the implementation caused the area to recover from a loss of 1.8 percentage points in October.

“This month [novembro]the biggest influence came from the increase in accommodation and food, but there was also progress in other services provided to families, driven, especially, by the growth in the activity of theatrical and musical shows, due to the singer Taylor Swift’s shows in the country”, says Rodrigo Lobo, manager of PMS (Monthly Services Survey).

In November, the North American artist performed 6 shows in São Paulo and Rio de Janeiro. In the capital of Rio, a young woman died because of the heat during the first performance. At least another 1,000 fainted due to complications from the high temperatures.

Services grow 0.4% in November

The volume of services provided in Brazil grew 0.4% in November, after 3 negative months. The sectors that drove the increases were:

• Other services – + 3.6%;
• Professional, administrative and complementary services – + 1%;
• Services provided to families – + 2.2%.

The rise in Other services was driven by auxiliary financial services, especially the increase in revenue from card machine companies. In the Professional, administrative and complementary services sector, the emphasis is on legal activities and discount card and loyalty program companies.

The November result places the services sector 10.8 percentage points above the pre-pandemic level, according to Lobo. The highest point in the series analyzed by IBGE was in December 2022, with 2.5% in the volume of services.