Beyoncé: Performances are said to have driven inflation in Sweden

Sweden
When Beyoncé comes, it will be expensive: the singer’s appearances are said to have driven inflation

There are many reasons why a country’s inflation rises. An unexpected special effect recently occurred in Sweden. Economists claim that Beyoncé concerts made an impact on the statistics.

Many years have passed since superstar Beyoncé’s last world tour. So it’s no wonder that the run on tickets for the “Renaissance” tour is big. How big, describe reports of the “BBC” and the “Guardians“. Both refer to Michael Grahn, chief economist for Sweden at Danske Bank. On social media he wrote: “Beyoncé’s start of her world tour in Sweden seems to have colored the May inflation, how much is uncertain.”

He told the BBC: “I wouldn’t blame Beyoncé for the high inflation, but her performance and the global demand for her performance in Sweden seem to have contributed a little.” Overall, Grahn says, he blames the Beyoncé Effect for 0.2 to 0.3 percent of inflation in May.

Hotels, restaurants and even clothing became more expensive

In mid-May, the singer gave two concerts to kick off her tour in the Swedish capital. Up to 46,000 fans are said to have attended each of these events, some from overseas. As a result, the prices of tourist services have risen noticeably – a well-known phenomenon at popular major events.

However, Beyoncé fans have not only pushed up prices on hotels and popular things to do, but also on local restaurants and even clothing. The city’s hotels were so busy, the Guardian writes, that some fans had to rent accommodation outside of the city.

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According to the report, Grahn assumes that this special effect will not occur again in June. He describes a statistically relevant influence of major events on the inflation rate as “extremely rare”. On the other hand, there is a report by the “Financial Times“, in which another economist warns of the next world star: Bruce Springsteen is coming to Gothenburg for three concerts at the end of June.

Beyoncé starts in Germany

As far as hotels are concerned, the Beyoncé effect seems to be noticeable in Germany as well. Your next four performances, starting with two dates in Cologne, will be accompanied by booking portals such as “Booking” with correspondingly high prices for free rooms. “92% of the accommodations on our site are not available for tonight in Cologne,” writes “Booking”. The cheapest hotel room, far out of town, is 104 euros – the website says it’s usually 69 euros. Airbnb doesn’t look any better.