'Barbenheimer' trend, Beyoncé, Taylor Swift tours raking in billions for US economy

The success of Barbenhiemer, Beyoncé's Renaissance Tour, and The Eras Tour by Taylor Swift has made up for $8.5 billion of the US economy.

Morgan Stanley made the revelation, stating how Hollywood blockbusters this summer, Barbie and Oppenheimer (Barbenhiemer), and tours by Beyoncé and Taylor Swift have definitely helped out US’ economy in the third quarter of 2023.

Media analysts estimated that Barbenhiemer brought in a combined total of $2.3 billion in tickets and food sales whereas Beyoncé's fans spent an average of $1,800 on tickets, flights, hotel and food. 

As for the Swifties, Bloomberg says they spent an average of $1,500 on the expenses. Both the tours are expected to bring in around $5.4 billion in the third quarter, according to Stanley.

As per the Bureau of Economic Analysis, consumer spending increased by 0.8% in July alone, which is the fastest rate since January.

Consumer spending increased by 1.9% year-over-year as it contributed 0.7 percentage points to personal consumption and expenditure (PCE) and 0.6% points to the GDP. 

The figures are now predicted to drop by 0.6% as the Barbenheimer fever is over, Swift wrapped up her tour in the US, in August, and Beyoncé will be done by the end of September too.