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Prices are rising less and less in almost all European countries. But Sweden was an exception last month. Economists point to one notable culprit: Beyoncé.
This is a British newspaper report financial Times, Economists had predicted that inflation would fall to 7.8 percent in May. But this did not happen. The inflation rate in the country fell by just 0.2 percent to 8.2 percent.
According to Swedish economists, Beyoncé’s arrival went unnoticed. Fans from around the world flocked to Stockholm for their first of two concerts last month Renaissancetour, which led to skyrocketing hotel room prices near the capital. According to economists, the costlier hotel rooms partly prevented inflation from falling further.
Major events such as sports tournaments often distort economic statistics, but it is rare for a concert to have such an effect. “It’s surprising that a single event has such an impact,” said Michael Grahn, chief economist at Danske Bank. “We haven’t seen this before.”
many visitors from abroad
Ticket prices for concerts by international superstars were very low in Sweden compared to many other countries. This is because the value of the crown is decreasing due to inflation.
Fans in Sweden paid an extra 56 euros for the cheapest ticket, while in the US the cheapest ticket cost more than 83 euros. This resulted in a large influx of fans from abroad, who could see their idol perform in Sweden at a much lower cost.
The concerts in the Swedish capital – like the rest of Beyoncé’s tour – were completely sold out. In fact, visitors from afar often stayed in hotels outside Stockholm. In the city itself, all hotels were booked months in advance at exorbitant prices.
Beyoncé is known for hits like halo And Crazy in Love, giving concerts again for the first time in seven years. This weekend Queen B performs two concerts at the Johan Cruyff Arena in Amsterdam.
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(translated to tagged) Sweden
