Taylor Swift lands at number five on Forbes' World's Most Powerful Women list after banner year featuring wildly successful Eras Tour and Travis Kelce romance

Taylor Swift has been declared one of the world's most powerful women by Forbes magazine, landing at number five on a list that includes world leaders, CEOs, and heads of financial corporations.

The influential publication has ranked Swift fifth on their World's Most Powerful Women list for 2023. Last year, she came in at number 79 on the same list.

'With a record-breaking world tour, the ability to move economies and a $1.1 billion net worth, the 33-year-old entertainer ranks among the most influential women on the planet,' Forbes declares of the pop star in an introductory paragraph.

2023 has indeed been a banner year for the pop star, with Taylor embarking on her record-breaking Eras Tour and a new romance with football star Travis Kelce that merged two unlikely worlds, Swifites and the NFL.

Swift achieved billionaire status in October as a result of her historic Eras tour, which has grossed close to $850 million following 66 shows in the U.S., according to Forbes.

Swift's net worth grew to $1.1 billion after she earned $190 million - after tax - during the first leg of her tour, prompting her net worth to grow to $1.1 billion. She will next travel to Europe and Asia for her tour in 2024.

The publication also cited the economic benefits of a city hosting an Eras show. According to Forbes, on average fans spent $1,300 on lodging, food, and retailers during her two Denver concerts - providing $140 million to Colorado's gross domestic product.

Estimates made by the U.S. Travel Association calculates that Taylor's tour over $5 billion was added to state economies.

'She’s like a big corporation, essentially, operating in many sectors,' Carolyn Sloan, a labor economist and professor at the University of Chicago, told Forbes.

'Her audience has skewed so young and so female for so long that people may have underestimated how big this thing could be, economically. I don’t think anybody doubts that today.'

Forbes also cites the success of her Eras Tour concert, released in October. The movie earned $93 million during its opening weekend and worldwide made over $250 million.

The release of her film also coincided with her much-talked about romance with NFL star Travis Kelce, whom Swift has been supporting in person at his games.

In addition, Forbes brings up her successful re-recording of her songs following a controversy over the masters. Her latest re-recording, 1989 (Taylor's Version), broke a Spotify record.