The pop icon singer’s “Renaissance” tour kicked off in the Nordic country.
Although it seems unusual, they blame Beyonce by rising inflation in Sweden after the start of his “Renaissance” tour in that country last month.
The megastar’s decision to kick off his big world tour in Sweden sent prices up for restaurants and hotels in the area as thousands flocked for the show. Because of this, Sweden reported higher than expected inflation of 9.7% in May.
Michael Grahn, chief economist at Danske Bank, the largest bank in neighboring Denmark, told CNN that the rise in inflation was “definitely not normal. The stars come here all the time [pero] rarely do we see effects like this.”
In an email to BBCGrahn wrote: “I wouldn’t…blame Beyoncé for [la] impression of high inflation, but her performance and the global demand to see her perform in Sweden apparently added a bit to that.”
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He added that fans traveled to the country for the two sold-out “Revival” dates due to the “very weak” Swedish currency and concert tickets were relatively cheaper than elsewhere.
Grahn also mentioned that “there are a limited number of hotels and accommodations in the Stockholm area”, adding that hotels further away from the capital had raised prices as a result. He expects the “Beyoncé effect” to be short-lived, with hotel prices plummeting over the next month.
Last month, Forbes reported that the pop icon’s ongoing “Rebirth” tour could gross nearly $2.1 billion.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
