Illustration photo – American singer Beyoncé in a picture from 2021.
Stockholm – Did you think that the war in Ukraine or disruptions in the supply chain were responsible for the rise in prices? You probably don't know Beyoncé, BBC News wrote. The start of her tour in Sweden last month created such a demand for hotels and restaurants that it reflected in the country's economic statistics. May inflation of 9.7 percent was higher than forecast, and according to Danske Bank analyst Michael Grahn, the American pop superstar is partly to blame.
“I wouldn't blame Beyoncé for the high inflation, but her performance and worldwide demand for her concert in Sweden probably contributed a bit,” Grahn told the BBC in an email.
According to the BBC, there is no doubt that the singer's first solo tour in seven years is a big economic moment. At least one estimate states that it could earn almost two billion pounds (over CZK 50 billion) by the end of September, when the last concert is scheduled.
According to Airbnb, after the tour was announced, searches for accommodation in cities where there are concert stops. Many tickets sold out within days and their prices soared on the resale market.
60,000 people gathered in Cardiff, England, including fans from Lebanon, the United States and Australia. Demand for hotel rooms in London was so strong that in one case, according to the BBC, homeless people who had previously been housed by city hall were evicted from hotels.
At concerts in Stockholm, where Beyoncé performed in front of 46,000 spectators, according to the BBC, fans from all over the world gathered. Among them were mostly people from the United States, where a strong dollar against the Swedish krone made tickets in the Nordic country seem relatively cheap.
In an email to The Washington Post last month, she described the Visit Stockholm agency described the boom in tourism in the city as the “Beyoncé effect”.
Inflation in Sweden peaked at 12.3 percent in December, 10.5 percent in April and 9.7 percent in May.
For one star to have such an impact “is very rare”, Grahn told the BBC, adding that major football tournaments can have a similar effect. He added that he expects trends to return to normal in June.