Beyonce’s star power has been undeniable since the very beginning, but it’s now even more apparent than ever thanks to the Renaissance World Tour she kicked off last month in Sweden, resulting in record inflation across the country.
It’s been reported that the “Beyoncé Blip” is in full force, causing increased demand for hotels and restaurants. The reported “frenzy” has led to higher-than-expected inflation of 9.7 percent for May, according to BBC News.
Michael Grahn, an economist at Danske Bank, told the BBC that the Lemonade singer has significantly contributed to the unexpected increase in recreation and culture prices. “I wouldn’t … blame Beyoncé for [the] high inflation print, but her performance and global demand to see her perform in Sweden apparently added a little to it,” he said.
Data shows that Sweden’s inflation peaked at 12.3 percent in December. The 9.7 percent rate last month was down from 10.5 percent in April — however, financial markets expected 9.4 percent. Grahn noted that one such star having this impact is “very rare.”
The Houston native’s seventh album and subsequent tour continue to make history. Earlier this year, Queen Bey earned her 32nd Grammy award — making her the most awarded artist in history.
Now, it’s being rumored that she’s on track to net more than $2billion from her current tour. Last May, Forbes reported the singer’s 10-figure projection could potentially come through two main areas: ticket sales and merchandise.
In terms of gross ticket sales, $751million and $2.4billion are the low and high estimations based on average ticket prices from 52 shows.
With merchandise, $171million is the figure she could generate based off of 300,000 items being sold at an average price of $100. Assuming she keeps 80 percent of merchandise revenue, Beyoncé would earn around $136.8million.
Even if her ticket revenue lands somewhere in the middle of the projections, Mrs. Carter would have the highest-grossing tour of all time — by a wide margin.
That record currently belongs to Elton John, whose Farewell Yellow Brick Road pulled in a staggering $853million from 293 concerts between 2018 and 2023.
Bey’s last tour, 2018’s On the Run II with husband JAY-Z, netted a reported $254million in gross revenue.
The singer’s Renaissance Tour kicked off on May 10 in Sweden, with the North American leg beginning on July 8 in Toronto. From there, she’ll swing through cities such as Philadelphia, Chicago, Atlanta, Los Angeles and her hometown of Houston.