Beyoncé Creates Unexpected Inflationary Pressures in Sweden With Tour
In May 2023, Sweden experienced a higher-than-expected inflation rate of 9.7%. Some experts and economists in Sweden have attributed this increase to Beyoncé’s world tour in the country, particularly pointing to the rising prices of hotels and restaurant services.
Michael Grahn, a Swedish economist at Danske Bank, acknowledged that while he wouldn’t solely blame Beyoncé for the high inflation, her performance and the global demand to see her in Sweden likely contributed to it.
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The impact of Beyoncé’s tour on the hospitality industry and recreation and culture prices was not limited to Sweden alone. In the UK, the Cardiff Hotel reported that over 60,000 people, including foreign nationals from countries like Lebanon, the USA, and Australia, had sought rooms in connection with the singer’s concert in London.
This unexpected surge in demand led to the displacement of some homeless families who were temporarily housed in a hotel by the local council.
Beyoncé’s world tour, her first in seven years, is projected to generate over £2 billion in revenue by its conclusion in September.