"Barbie" is Boosting the US Economy

Concert activities of stars like Taylor Swift and Beyoncé, as well as box office revenues from the films "Barbie" and "Oppenheimer," will contribute an additional $8.5 billion to the US economy in the third quarter.

This information is reported by Bloomberg.

As of now, nearly 50 concerts by various artists are planned in the US, and it is expected that the realization of these events will add an extra $5.4 billion to the country's GDP.

Meanwhile, according to the analysts of the publication, the screening of the films "Barbie" and "Oppenheimer" will bring in $3.1 billion from consumer spending on tickets, popcorn, merchandise, and other goods, as well as profits from the films' international screenings.

According to the publication's data, collectively, the entertainment industry will potentially lead to an increase in real individual consumption expenditures, thereby stimulating a GDP growth of 0.7 and 0.5 percentage points from July to September.

However, researchers believe that this economic leap, driven by the rise in the entertainment industry, is unlikely to have a long-lasting effect. For instance, none of the top stars have announced plans to perform on major stages in the last three months of the year, at least not yet. And such undeniable box office hits as "Oppenheimer" and "Barbie" are unlikely to come out regularly.

"Much of this effect comes from temporary factors," economists Anna Wong and Eliza Winger write. "These factors create the illusion of sustainable consumption, while in reality, it exhausts itself."

This economic jump is largely prompted by successful marketing. For instance, Mattel, the company that produces Barbie toys, has signed over 100 sponsorship agreements with brands worldwide. As a result, even before the release of the film "Barbie," the "world was flooded with pink color." People literally fell in love with the Barbie aesthetic, and global companies recognized "pink" as a universal trend.

Also, it's worth mentioning that economists recently speculated that Beyoncé's concert in Stockholm could lead to rapid inflation within Sweden.

As part of her grand tour "Renaissance World Tour," which became the singer's first large-scale tour in seven years, she is performing 57 shows in various parts of the US and Europe.

During this tour, thousands of Beyoncé fans from Sweden and other countries around the world gathered to experience two concerts by the popular singer in person.

According to analysts' estimates, each concert was attended by 46,000 people, and many of them had to seek accommodation outside Stockholm, as the city was overrun by concertgoers.