Beyoncé Concerts Contribute to Inflation Surge in Sweden

According to reports from Wei Tianxia citing Observer Net, in May, a large number of fans from around the world flooded into Sweden, resulting in a significant surge in local demand for hotels and dining. Beyoncé's two concerts in Stockholm, the capital of Sweden, attracted 46,000 people each night. The local tourism association described the tourism industry as experiencing the 'Beyoncé effect'.

Sweden announced an inflation rate of 9.7% in May, surpassing external expectations. The Swedish Statistics Bureau stated that restaurants and hotels contributed 0.3 percentage points to the data for May, while entertainment and culture contributed 0.2 percentage points. It is reported that major sporting events like the World Cup often distort economic data, causing temporary surges. However, economists pointed out that it is rare for a single event to impact national inflation data.

'Beyoncé bears partial responsibility for this. It is very rare for a celebrity to generate such an impact,' said Michael Grahn, the chief economist in Sweden. Grahn believes that Beyoncé has driven up hotel prices in Sweden, which may be the reason for the increased prices of local leisure and cultural facilities.