Aug 2, 2023 - Business

Beyoncé at Gillette continues "Goldilocks" economic boost

Beyoncé performs in East Rutherford, New Jersey on Sunday. Photo: Kevin Mazur/WireImage for Parkwood/Getty Images

Beyoncé came to town Tuesday night. And there might be an economic impact.

Driving the news: The blowout success of Taylor Swift's "Eras" tour, combined with the record box office juice of the "Barbie" movie and other popular tours now kicking off like Beyoncé's, is helping to buoy the economy and prevent a recession.

  • This was Beyoncé's first time at Gillette Stadium since 2018, and some fans with general admission tickets showed up at 6am, WBZ reported.

Why it matters: Beyoncé should have been an economist — her 2011 observation that it's girls who run the world is now showing up in microeconomic aggregates, write Axios' Emily Peck and Felix Salmon.

  • A not-too-hot, not-too-cold economy like the one we're seeing is known as a "Goldilocks economy."

What's happening: Consumers are prioritizing experiences and entertainment over buying things, as fresh economic data for July shows.

Flashback: We already saw the stimulating impact Swift's tour had on Boston-area bars, restaurants and hotels during her three-night stand in Foxboro. She sold out hotels and metro tickets.

What's next: Following Beyoncé's "Renaissance" stop, we're watching to see whether an economic boost shows up in the data.

  • We do know that commuter rail tickets for the show also sold out quickly — in 1.5 hours.
  • The increased spending linked to Bey's debut performances in Sweden may have caused an uptick in the country's inflation rate, the New York Times reported.

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