Beyonce is bringing joy to the world via her wildly successful Renaissance Tour. Financial experts are saying she’s also stimulating the global economy.
A major aspect of the concertgoers’ experience is donning Renaissance-inspired fashions patterned after the singer’s futuristic garbs, and its benefitting beauty service providers.
According to a Fortune report, Yelp searches for nail technicians jumped 3x as much as last year—that’s in addition to increased searches for wigs (81%) and searches for local lounges and eateries near the shows’ stadium, which were up 160% per the outlet.
“Beyoncé is a force, and it’s fascinating to see the level of excitement and tangible interest generated for the local shops and businesses as her tour kicks off,” Tara Lewis, Yelp’s trend expert, said in a report shared with the outlet. “Whether it’s people looking for dining and nightlife options, getting glammed up, or booking transportation, the ‘Beyoncé Bump’ is real, and it’s helping more people connect with local businesses in their communities.”
The Beyonce effect first gained the attention of economists during the kickoff of her tour in Stockholm, in which Swedish finance experts said it was her influence that temporarily inflated consumer prices in the city.
“Beyoncé’s start of her world tour in Sweden seems to have colored May inflation, how much is uncertain,” Michael Grahn, chief economist for Danske Bank in Sweden, wrote on Twitter. The tour accounted “for 0.2 percentage points of the 0.3 percentage points that hotels and restaurants added for the month,” he said.