Inflation: Beyoncé blamed for rising prices in Sweden

According to analysts, the rise in accommodation, food and leisure prices is directly linked to the first two concerts of Beyoncé’s Stockholm tour.

Queen B responsible for inflation in Sweden? It’s quite incredible to read that, yet that’s what central bankers are hammering home to the Financial Times this Wednesday, June 14, 2023.

The singer, who kicked off her Renaissance world tour in Stockholm in May 2023, is said to have brought with her a spike in local hotel prices, which in turn has led to higher-than-expected Swedish inflation, according to economists at Danske Bank.

46,000 people to accommodate every night

Obviously, when Beyoncé turns up in a city, it’s not without consequences, especially when it’s her first tour in seven years. As in many other cities where she performs, fans flock from all over the world.

And that’s exactly what happened in the Swedish capital, where the first two concerts were sold out. And it goes without saying that the 46,000 people present each evening had to find somewhere to stay.

Related Article: Beyoncé’s Massive Tour Team Revealed: 14 Chefs and an Unbelievable Automation Dream Team!

Cheaper tickets than in other countries

And the fact that so many fans came from all over the world was undoubtedly due to the fact that ticket prices were much lower than in other countries. While prices ranged from $91 to $689 in Las Vegas, for example, tickets for the Stockholm concerts sold for between 650 SKr and 1495 SKr, or $60 and $140.

An unexpected rise

According to Swedish statistics, some costs have risen, particularly in restaurants, hotels, leisure and culture.

“Beyoncé is responsible for the surprise additional rise this month. It’s quite astonishing for a single event. We’ve never seen this before,” said Michael Grahn, chief economist at Danske. He estimates that the singer caused a 0.2 percentage point rise.

Some economists, such as Andreas Wallström, head of forecasts at Swedbank, fear that the Bruce Springsteen concert in Gothenburg in June will have a similar effect.

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