How Taylor Swift’s fans in Argentina will dodge inflation to see her sing in November concert

Pop icon Taylor Swift is scheduled to sing for two shows in November in inflation-hit Argentina. The tickets in the standing-room only area closest to the stage where Swift will sing are going for 75,000 pesos, or about $153. 

In an interesting intersection of finance and entertainment, it is worth noting that inflation in Argentina has topped 100 per cent according to the latest available figures. For the Swifties, as Taylor Swift fans like to describe themselves, the lesson on high inflation and exchange rates has become an important element of affording to watch the pop icon live in a concert.

How will Argentinian Swifties afford to watch Taylor sing?

For tens of thousands in Argentina, the final cost of Taylor Swift’s concert ticket may end up even less than $153.

This is because the customers of country’s Banco Patagonia bank — if they pace up to be among the first 24,000 Swifties buying tickets for Taylor Swift shows — can pay in six installments the cost of tickets free of interest, according to the ticket sale website AllAccess.com. 

But how would first 24,000 tickets cost less than $153?

In Argentina, there is a formal currency exchange rate and an informal one. As per the formal currency exchange rate, a dollar is worth 241 pesos against informal exchange rate’s 490 pesos per dollar cost. 

Credit cards are tied to Argentina’s official exchange rate which is overvalued due to strict government controls. 

To take advantage of the gap between exchange rates, pay installments without interest are also a popular strategy for locals to partially shield themselves from high inflation and currency devaluations. 

But isn’t there an economic crisis in Argentina?

Yes there is. But despite that Argentines are known for splurging on tickets when big shows arrive. 

Coldplay sold out 10 shows in Buenos Aires last year, more concerts in any other single city during their worldwide tour.

Tickets to the general public in Argentina go on sale June 6. 

Also watch | Explore Taylor Swift’s ‘love story’ with costumes

Taylor Swift’s concerts have faced ire on social media for being too pricey. Some of the cheapest seats at this week’s concerts in Chicago are above $700 in the secondary market. 

For other US shows, tickets that were originally sold for as little as $49 plus fees are often going for more than $1,500 in reseller apps.

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