The terms “swiftlation” or more broadly “swiftonomics” have been dubbed to describe the economic impact on the cities hosting Taylor Swift’s ultra-popular concerts.

Now that the star is in full swing of her “Eras” tour, which started in March this year, concludes in December and includes three concerts in Warsaw, economists from Poland’s second largest bank, Pekao, have been foreseeing the local impact of this phenomenon.

“The American singer's tour creates gigantic demand, especially in the travel sector. Hundreds of thousands of fans spend money on concert tickets, flights, lodging, catering or souvenirs,” the analysts said.

According to the Warsaw Chamber of Commerce’s estimates, the three concerts in the Polish capital on August 1,2 and 3 will attract people who could leave as much as approximately 190 million zlotys (€45 million) in the city’s economy.

However, as Pekao experts said, on a macro scale, the impact will be imperceptible.

“Taylor Swift will not drive up inflation in Poland,” they pointed out.

At the same time, in their study, the analysts looked at two European countries where the effect of Taylor Swift’s concerts could be seen on a macro level.

“It is Sweden and especially Portugal. In the month of the concert alone, services inflation in Sweden was uncharacteristically bumped up by 0.4 percentage points, and in Portugal by more than 1.5 percentage points!” they said.

According to the DGC Group, a British company that invests in environmental solutions, the carbon emissions emitted from the singer’s private jet usage to attend 11 shows before her tour, in the month of February alone, amounted to 393 metric tonnes of CO2 emissions.

To put this in perspective, the average U.S. citizen emits around 14 tonnes of CO2 per year. Therefore, Swift’s air travel in just this February alone was 28 times more than an average person’s annual emissions.