'Tourflation'? Taylor Swift, Beyoncé and Bruce Springsteen could be making inflation worse
Publishing timestamp: 2023-07-11 01:35:03
Summary
The article discusses the potential impact of high concert ticket prices on inflation. Economists suggest that the rising prices of concert tickets, as well as associated costs such as travel and accommodation, may contribute to overall inflation. However, not all economists are convinced of this impact. Factors such as changes in the music industry, post-pandemic concert culture, and increased household savings are cited as reasons for the high ticket prices. While the impact on inflation may be temporary, concert ticket prices are expected to remain high due to supply and demand dynamics and the reliance of artists on tours for revenue.
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Keywords: tourism, beyonce, economic outlook, u.s. economy, elton john, inflation, concerts, pop music, prices, musician, concert tours, music, bruce springsteen, economy, live nation entertainment inc, taylor swift, ed sheeran,