Sweden more affordable than ever for international visitors – no evidence found that Beyonce´s concert affected Swedish inflation rate

Photo: Tina Axelsson/imagebank.sweden.se

In recent days media across the world have reported widely on Beyonce’s Renaissance Tour concerts in Sweden´s capital Stockholm, affecting the Swedish inflation rate. According to Statistics Sweden, SCB, the agency responsible for Sweden´s official and government statistics, it is very unlikely that these concerts in Stockholm during May affected the Swedish rate of inflation. Statistics Sweden is responsible for measuring Sweden´s rate of inflation.

"The Swedish currency exchange rate is now at record low levels compared to the USD, GBP and the Euro, making Sweden more affordable than ever for many international visitors", says Susanne Andersson, CEO of Visit Sweden, the national and official marketing company of Sweden as a tourist destination.

Thanks to the weak Swedish currency in recent years, international visitors exploring Sweden find their stay more affordable, experiencing high-quality service, accommodation, shopping, culture and gastronomy.

No Evidence Found That Beyoncé´s Concerts Affected Swedish Inflation

In recent days media across the world has widely reported that Beyonce’s Renaissance Tour concerts in Sweden´s capital Stockholm affected the Swedish rate of inflation by creating increased consumer prices, as the concerts created high demand for hotels and restaurants in Stockholm.

It has now become evident that it is highly unlikely to relate or ascribe specific inflationary aspects to a single concert on a specific date.

According to Sweden’s agency for national statistics, Statistics Sweden SCB, the inflation figures for Sweden during May (when the Beyoncé concerts were held in Stockholm) showed a slight general increase in consumer prices for many different reasons, none of which relate directly to the concerts.

Accommodation prices in Stockholm, just as in any city around the world, are linked to supply and demand and will naturally increase if there is a limited number of hotel rooms available. According to Statistics Sweden, SCB, it is very unlikely that these specific concerts had any impact on the general rate of inflation nationally.

Swedish hotel room prices increase slightly in May historically, as the summer holiday season begins creating higher demand. Over the specific weekend when Beyonce's concerts were held in Stockholm, there was also an EU summit in connection with Sweden´s presidency of the EU, and several other large international congresses - as Sweden is a popular and accessible country for conventions and events.

In addition, Sweden is celebrating its 500th anniversary with several hundred activities planned across the country throughout the year, as well as a selection of music events and festivals which attract international attention.

Summer vibes in Sweden 2023

29 June Lollopalooza, Stockholm
Lollapalooza has grown into a colourful and creative music event in the US, Brazil, Chile, Argentina, Berlin, Paris – and now Stockholm – with 1,5 million fans attending each year from all over the globe. This year's performing artists include Travis Scott, Zara Larsson, Kygo, Fatboy Slim, Lil Nas X, and Mumford & Sons. visitstockholm.com/events/lollapalooza-stockholm

10-12 Aug, Way Out West, Gothenburg
Way Out West is the only festival in Sweden and the first music festival in the world to achieve an ISO 20121 certification, back in 2013. The festival is vegetarian and has been completely meat-free and largely dairy free since 2012 and certification is a testament to the festival’s sustainability efforts, which have seen it reduce its carbon footprint year-on-year. Since Way Out West started in 2007, they’ve been blessed with stars such as Prince, Kanye West, Kendrick Lamar, Florence + The Machine, Neil Young, M.I.A., Alicia Keys, Stormzy, Frank Ocean, Robyn, Patti Smith, Solange and The Cure, to name just a few (OK, many). This three-day, multi-genre festival is located in the idyllic Slottsskogen park, the leafy and lush heart of Gothenburg. wayoutwest.com

11-18 Aug, Malmö Festivalen, Malmö
A warm, friendly and sustainable festival that started in 1985. The festival features everything from groundbreaking art, music and culture to a variety of food that reflects the intercultural vibes and people of Malmö. With 1,4 million visits every year, it’s the largest (and oldest!) city festival in Scandinavia. Everyone is welcome and almost everything is completely free! malmofestivalen.se

24 Aug – 2 Sept, Baltic Sea Festival, Stockholm
The Baltic Sea Festival is one of Europe’s leading classical music festivals. Over the past twenty years, The Baltic Sea Festival has served as a meeting place for outstanding concerts and initiatives that contribute to a sustainable Baltic Sea region. balticseafestival.com

June-Sept, Dalhalla, Dalarna
A unique festival venue with exceptional acoustics in a lime quarry by lake Siljan. The beautiful surroundings are the result of a meteorite impact which happened 360 million years ago. Dalhalla is one of only three places in the world where it is possible to see how the natural surroundings have been formed by a meteorite. Dalhalla holds 20-25 events each summer. From June to September, the seasonal program includes a wide range of concerts such as Mamma Mia the musical, based on the songs of ABBA, performed for the first time in the open air. dalhalla.se

FOR MORE PRESS INFO:
Jim Hofverberg, Chief Corporate Communications Officer
+46 70 644 64 12
jim.hofverberg@visitsweden.com

VISIT SWEDEN PRESS CONTACTS: https://corporate.visitsweden.com/press-influencers/

PRESS PHOTOS AND FILM, FROM IMAGEBANK SWEDEN:
Dalhalla, Dalarna – download
Way out West, Gothenburg - download
Festival, Stockholm - download

ABOUT VISIT SWEDEN

Visit Sweden has an official assignment from the Swedish government to promote Sweden as a destination. Our vision is that Sweden by 2030 is the world's most sustainable and attractive destination built on innovation. Now more than ever, purposeful travel needs to be meaningful, conscious, and creating lasting value with regard to our guests, the local community and our planet. Visit Sweden is a limited company with 50 employees across the world. The Company is based in Stockholm and the turnover in 2022 was SEK 159,9 million. corporate.visitsweden.com