June 17th 2023.
It appears that the world-famous singer-songwriter Beyoncé is not only responsible for running the world, but also for running up inflation in Sweden. According to a report by The Financial Times, Danske Bank Chief Economist Michael Grahn declared that "Beyoncé is responsible for the extra upside surprise this month."
The statistics in Sweden showed a decrease of 0.8% in inflation from April to May this year, as reported by AfroTech. In April, the percentage was at 10.5%, and it reduced to 9.7% in May. However, hotels and restaurants saw a sharp increase in their prices by about 3.3% due to the singer's Renaissance World Tour.
Grahn has pointed out that this change in the statistics is "definitely not normal." He added that "stars come here all the time, [but] we seldom see effects like this." It is indeed a testament to the star power of Beyoncé that her fans, known as the BeyHive, would fly across the world to see her. As reported by BuzzFeed News, one fan from Las Vegas, Nevada snagged tickets to a show in Sweden for cheap when she couldn't get one in her hometown.
The Renaissance World Tour is estimated to bring in at least $382 million in revenue. If all shows sell out, Forbes reported that Beyoncé can accumulate more than $2 billion in revenue, which would make the tour the highest grossing of all time.
Beyoncé made her first stop in Stockholm, Sweden on May 10th. The tour is still ongoing, and the singer is scheduled to appear in Amsterdam on June 17th. It is clear that the impact of Beyoncé is out of this world.
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