The 'Beyoncé effect': Singer's tour blamed for inflation surprise in Sweden?

The official start of the singer's worldwide tour in Sweden last month caused such a rush for hotel rooms and restaurant meals that it has been reflected in the country's economic data, reports BBC.

In May, Sweden reported higher-than-expected inflation of 9.7%.

The surprise was due to rising hotel and restaurant costs, the report said.

According to Michael Grahn, economist at Danske Bank, Beyoncé may have contributed to the increase in hotel costs. He believed she was also a driving force behind the unusually massive increase in recreation and cultural expenses.

"I wouldn't ... blame Beyoncé for [the] high inflation, but her performance and global demand to see her perform in Sweden apparently added a little to it," he wrote in an email to the BBC.

There is little doubt that the singer's first solo tour in seven years is a significant business event. According to one estimate, the tour may earn over £2 billion by the time it concludes in September.

Airbnb reported that searches for accommodation in locations on the tour increased after the announcement. Many shows sold out in days, and resale prices skyrocketed, the BBC report also said.

In the United Kingdom, 60,000 people arrived in Cardiff, including fans from Lebanon, the United States, and Australia. Demand for hotel rooms related to her London show was so high that several homeless families being accommodated in a hotel by the local authorities were reportedly kicked out to make space for the fans, it said.

The Stockholm concerts, where Beyoncé performed before an audience of 46,000 over two nights, apparently drew fans from all over the world, particularly the United States, where a strong dollar against the krona made tickets in the Nordic country appear to be a relative bargain.

Visit Stockholm termed the surge in travel to the city the "Beyoncé effect" in an email to the Washington Post last month.

Sweden's inflation rate peaked in December at 12.3%. Official numbers showed that the rate was 9.7% last month, down from 10.5% in April. The financial markets had predicted around 9.4%.

Grahn told the BBC that it is "very rare" for one celebrity to have such an effect, adding that large football tournaments may have a similar effect. He stated on social media that the anticipated trends will return to normal in June.