Beyoncé is a diva among divas and is on a world tour with her album Revival. A great news for lovers of the American singer who can enjoy one of the best live performances in recent times. But still A great music party turns into a real headache For some countries that host their concerts. The reason? inflammation
Now, the price spikes due to the pandemic and the consequences of the war in Ukraine give no indication of an immediate solution, and we must add the problems in the supply chains. The effect of 'pionflation’, as it is already called by some sectors. Michael Gran, chief economist at Danske Bank, Denmark’s main bank based in Sweden, was the first to sound the alarm.
The Swedish capital is where Beyoncé chose to open Tour Single after seven years without setting foot on the world tour stage. The Friends Arena in Stockholm brought together around 50,000 people over two consecutive nights on 10 and 11 May. In total, about 100,000 fans danced to the rhythm of songs from the new album and the best of the artist for three hours. According to Gran This high public attendance is reflected in the statistics Economy of the country. After Texan passed, Sweden reported consumer price index (CPI) data of 9.7% in May, three-tenths more than analysts had expected for this time of year.
„The start of Beyoncé’s world tour in Sweden has affected inflation in May, perhaps by 0.2 or 0.3 percentage points in the contribution of hotels,” Gran explained on his Twitter account. In fact, the influx of foreign tourists, Many of them were from the United States, armed with their strong dollars against the weak Swedish krona In comparison–, the price of the hotel offer (sold out in the whole Stockholm area), restaurants and leisure time is high.
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He’s not the only expert to point to the superstar as part of the trend. According to data released by the Swedish National Statistics Agency in mid-June, Inflation increased to 8.2% in the previous month. For his part, Bloomberg It estimates a variance of 7.8% compared to 8.1% for Sweden’s central bank, the Riksbank. The national organization established that restaurants and hotels contributed 0.3 percentage points higher than May’s figure, while leisure and culture did the same with 0.2. „We expect this surprise rise to reverse in June„When the prices of hotels, restaurants and tickets to shows are back to normal,” Gran said.
The Swedes are now trembling with the next landing of Bruce Springsteen, who is engrossed in a European tour. 'The Boss’ will play three concerts in Gothenburg at the end of July. Among analysts, there is a latent fear that inflation, fueled by strong demand, will not take a breather.
Beyoncé is raising prices in the UK too
The diva wanted to entertain her British fans in May. It is not enough to organize one concert, but fiveSpread across most of the countries that make up the United Kingdom: Wales, Scotland and England, many of them were held in London.
The impact of Beyoncé’s arrival was felt in these regions, albeit in a more modest way than in Sweden. According to the British Office for National Statistics, The CPI in the leisure and culture segment increased by 6.8%. After shows, four-tenths more than expected.
After watching, there are those who are already considering whether Beyoncé’s immersive world performance will only be enjoyed by a few privileged fans and music lovers (VIP tickets to her concerts cost About 3,000 euros, just 56,000 Mexican pesos), which is beneficial in the long run.
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