Why is funflation causing us to spend more on live entertainment?

If you’re a fan of Taylor Swift, it won’t have escaped your notice that the singer was back on tour this year across the United States. And what a tour it was! Fans were desperate to attend, and prepared to pay from $49 to $499 for the privilege, according to face value ticket prices quoted by Stylecaster.com. Meanwhile, resale ticket prices were in the thousands. 

If that seems a lot, then you should bear in mind that the cost of live entertainment has been rising due to what’s known as funflation. It’s a mix of “fun” and “inflation”, and economists say it’s caused by a growing demand for events like Taylor Swift concerts or live sports.

How are people able to afford this extra spending? Does the same go for other days out, apart from concerts? In under 3 minutes, we answer your questions!

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