Beyonce blamed for Inflation in Sweden
How powerful can one pop star be? How damaging to an economy can a concert ticket be?
Back in the 90s Oprah Winfrey caused a stir when she was accused of damaging the beef industry in the United States while Kendal Jenner more recently caused a decline in the use of Snap Chat users. But could a musical concert have a bearing on a country’s inflation? Economist seem to agree that American singer Beyonce caused inflation in Sweden because of her concert in Stockholm, Sweden.
Beyonce is currently on her Renaissance Tour promoting her latest album ‘Renaissance’. Economist Michael Grahn argues that Beyonce’s visit to Stockholm accounted for the 0.2% of the 0.3% rise in prices in hotels and restaurants. The two concerts Beyonce played in Stockholm drew thousands of fans from across the world. Some fans were forced to stay outside of the city because of over subscribed hotels. The phenomenon is expected to subside however, it goes a long way to showcase the power of entertainers as tastemakers and changemakers.
