The ‘Swifties’ and the ‘BeyHive’ are back with a vengeance and nothing, not even worldwide inflation woes and cost of living pressures, can keep them from splashing the cash on concert tickets to see their gleaming popstar idols live and on stage.

Global megastar Beyoncé, whose fans brand themselves the ‘BeyHive’, was called out by a renowned economist for contributing to inflation in Sweden where the singer decided to kick off her ‘Renaissance’ world tour – causing a surge in hotel and restaurant prices in the area.

Fans of Taylor Swift, or the aforementioned Swifties, are reportedly spending US$1,200 only to be able to land the cheapest seats at a Seattle show in July. The US economy is expected to see an extra US$5 billion in spending because of the singer’s ‘The Eras’ world tour.

In light of these and similar observations, economists are now comfortable with coining terms such as ‘Bey-flation’ or ‘Swift-flation’. And the concept is simple – after COVID-19 cut short the supply of concerts, demand has grown steadily and with it, ticket prices.

Fans justify their urge to splurge citing the effects of the pandemic, the constricting nature of lockdowns and the need for them to shake it off.

“After [the pandemic] I had this will to live, to go out there and do things I have never done before,” said a primary school teacher in Rio de Janeiro, who spent nearly US$2,200 on flight and concert tickets to attend a ‘Renaissance’ concert in Frankfurt, Germany.

“When the pandemic was in full swing, I think everyone was in a really low mood, and we missed out on events like this, where people all come together,” said a social media director in England.

“Now I think with things up and running, the people who can afford to are saving up to come to things like this because they are amazing.”

In Asia, fans are pulling out all the stops to catch their favourite artists such as Bruno Mars, Coldplay and the Backstreet Boys in live action.

“Had it not been for the gig, I wouldn’t have travelled,” said one Malaysian fan who followed his popstar idols across several countries, most recently Ed Sheeran in Australia.

Thailand’s leading candidate for prime minister Pita Limjareonrat, whether or not he was attempting to sway the country’s Swiftie vote, requested Ms Swift to perform in Bangkok. The singer’s only concert in Southeast Asia will be in Singapore.

So, even as central banks vie to draw the curtain on inflation,  it seems the age-old adage yet rings true – the show must go on.

Past performance is not a reliable indicator of future performance.