Unexpected High Inflation Shakes Sweden... "Beyonce World Tour Impact"

Beyonc?'s First World Tour in 7 Years
Tourists Flock, Accommodation Costs Soar
"Unprecedented for a Single Event"

Sweden's Consumer Price Index (CPI) for May recorded a higher-than-expected figure, with analysis attributing this to the global singer 'Beyonc?'s' world tour held last month.

BBC UK reported on the 14th (local time) that "Sweden's inflation in May reached 9.7%, higher than expected," adding that "rising hotel and restaurant prices are the cause."

BBC cited Michael Gran, an economist at the Danish financial firm 'Danske Bank,' who analyzed that "Beyonc?'s concert last month led the increase in hotel rates." It was also reported that costs related to recreation and cultural activities rose sharply this month.

American pop star Beyonc? [Photo by Yonhap News]

However, Gran told BBC, "I am not pointing to Beyonc? as the cause of high inflation," explaining that "the popularity of Beyonc?'s concert and the global demand converging on Sweden to see her could be factors driving price increases."

Earlier, Beyonc? announced her '2023 World Tour' in February. It is the first time in seven years that Beyonc? is conducting a solo global event, with a total of 41 performances scheduled, including in Sweden.

The Stockholm tour in Sweden on May 10th was also the starting point of this world tour. This suggests that Beyonc? fans from around the world may have flocked to Sweden.

During the tour, approximately 46,000 spectators gathered every night in the outskirts of Stockholm, the capital of Sweden, reportedly causing accommodation prices to skyrocket.

Regarding this, Gran pointed out, "(Beyonc?'s world tour) is quite an astonishing and unprecedented event as a single occurrence."

Andreas Wallstrom, head of economic indicator forecasting at Sweden's largest private bank, Swedbank, also predicted, "Bruce Springsteen's concert will be held for three days at the end of June in Gothenburg, Sweden's second-largest city," adding that "it will have a similar impact as Beyonc?'s tour."

Meanwhile, the UK financial media Financial Times (FT) reported that Beyonc?'s Stockholm concert also attracted interest from American fans. Tickets for Beyonc?'s concerts in the U.S. cost up to $689 (about 870,000 KRW), leading many fans to travel to Sweden where ticket prices are cheaper.

Beyonc?'s tour ticket prices in Sweden are only up to 1,495 Swedish Krona (about 170,000 KRW).

Meanwhile, Beyonc?'s current world tour is expected to generate enormous revenue approaching trillions of won. Forbes in the U.S. analyzed that Beyonc? will earn about $2.57 billion (approximately 3.28 trillion KRW) from ticket sales alone during this world tour, of which Beyonc? will take home $2.2 billion (about 2.8 trillion KRW).

This content was produced with the assistance of AI translation services.