Home > Latest News > Economists Predict Beyoncé, Taylor Swift, & “Barbenheimer” To Add Billions to Economy

Economists Predict Beyoncé, Taylor Swift, & “Barbenheimer” To Add Billions to Economy

Economists are forecasting massive third-quarter growth in the concert and movie sectors attributed to Taylor Swift, Beyoncé, and “Barbenheimer” (Barbie and Oppenheimer) movies, which combined, are set to boost U.S. growth by US$8.5 billion.

The trifecta between Bey, Tay and “Barbenheimer” occurring at the same time has brought about a “once-in-a-blue moon” surge in their prospective sectors, according to Bloomberg Economics.

Additionally, about 50 more American artists are scheduled to tour, which could increase the gross domestic product by another US$5.4 billion.

Once released internationally, Oppenheimer and Barbie are predicted to pull another $3.1 billion from exports, international ticket sales, and consumer spending.

Economists Anna Wong and Eliza Winger said when combined for the July to September period, the total would increase annualised real personal consumption spending and GDP by 0.7 and 0.5 percentage points.

The new projections show that not only has the economy strengthened, but with inflation decreasing and the labour market steadying, worry over an impending recession seems to be evaporating, with many economists taking back that one would even happen this year.

Despite the economic improvement, some claim that this unprecedented timing of tours and concerts will not continue to improve the market forever, and the economy is still susceptible to consumer spending slowing after these events are over, as well as the building housing market pressure coming from rising mortgage rates and low supply.

“A large chunk of that strength comes from temporary factors,” wrote Bloomberg.

“These factors create a mirage of resilient consumption, when in fact it’s running out of steam.”

According to the Bloomberg team, the numbers may be inflated because the economists submitted that did not account for ticket sales for Barbie and Oppenheimer through Wednesday, nor did they add in potential net-export costs of the four Mexico City concerts Swift is performing soon.

In Australia, Dr Angel Zhong, a finance academic at RMIT, said that his conservative estimation was the land down under could see roughly A$320 million in GDP when considering the average Swiftie will spend roughly A$900 to go to the show. He did not share numbers concerning “Barbenheimer” which will have an additional impact, boosting the Aussie market.



You may also like
Easy Streaming Revenue Pours In At Universal Music
Meta And UMG Cut Deal To “Address” Unauthorised AI-Generated Songs
Taylor Swift’s Songs Return To TikTok
Taylor Swift Becomes One Of The World’s Richest People
Vinyl Record Sales To Be Used To Measure Inflation

Popular Posts

HP Patents Screen That Folds Around Laptop
Latest News
/
/
Australia’s Big Shopping Malls Are Making A Comeback
Latest News
/
/
Moto’s New Phone And Buds Combo Available From Today
Latest News
/
/
Social media (Image: Sourced from Unsplash)
Government To Force Tech Giants To Take Legal Responsibility For Content
Latest News
/
/
Apple’s Wall Mounted Smart Hub Tipped For Early 2025
Latest News
/
/

Digital Magazines

Recent Post

HP Patents Screen That Folds Around Laptop
Latest News
/
//
Comments are Off
A little over a year ago HP launched its 3-in-1 Spectre Foldable PC, which could operate as a laptop, tablet...
Read More