Harry Styles concerts push up Dutch inflation
According to economists at De Nederlandsche Bank, more expensive hotel rooms in May contributed particularly to the inflation figure.
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Harry Styles’s concert series in Amsterdam had a measurable effect on Dutch inflation in May. That is what economists at De Nederlandsche Bank wrote in an analysis published on Wednesday.
Styles performed a total of ten times at the Johan Cruijff ArenA in May and June. Eight concerts took place in May. Because Amsterdam was the only venue on mainland Europe during the tour, fans came to the Netherlands from other countries and spent money not only on tickets, but also on hotels and other travel expenses.
The DNB economists compare price developments with previous years. According to their analysis, hotel stays in May 2026 were 21.9 per cent higher than a year earlier. Between 2016 and 2025, the average increase in May was 6.5 per cent.
Concert tickets also became more expensive. The annual price increase came to 7.4 per cent in May, compared with an average of 3.3 per cent in the same month of the previous ten years. The figures are based on the Harmonised Index of Consumer Prices, the measure used within the European Union for inflation comparisons.
According to the analysis, hotel stays contributed 0.38 percentage points to total HICP inflation in May. That was the largest contribution from hotels since the current measurement series began in 2011. At the same time, the researchers warn that not all of the price increase can be attributed to the concert series.
An important caveat is the increase in the VAT rate on accommodation in 2026. When the calculation is made using constant tax rates, the hotel contribution was highest not in May 2026 but in May 2023. Other events, holidays and broader developments in the hotel market may also have influenced prices.
The analysis therefore does not mean that one artist determined the Dutch economy or all prices. It shows that major international events in a small country can temporarily become visible in macroeconomic figures. If such concert series take place at one location more often, event tourism may become more visible in inflation measurements more frequently, according to the researchers.
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The figures can be found directly in the analysis by DNB economists in ESB and are consistent with publicly available CBS price statistics. The text clearly distinguishes between measured price increases and the estimated contribution of the concert series.
- confirmed Harry Styles performed ten times in May and June, eight of them in May. — This is stated in the DNB analysis in ESB. source
- confirmed Hotel stays increased by 21.9 per cent year on year in May 2026. — The DNB analysis gives this percentage based on HICP data. source
- confirmed The average increase in hotel prices in May was 6.5 per cent in 2016–2025. — This average appears in the comparison by the DNB economists. source
- confirmed Hotels contributed 0.38 percentage points to HICP inflation in May. — The analysis gives this contribution and compares it with the series dating back to 2011. source
- confirmed VAT on accommodation was increased in 2026. — The DNB analysis cites the tax increase as an important caveat. source
Editor's note
The price percentages and contribution to HICP come from the DNB analysis in ESB. The causal effect is an analysis by economists, not a direct measurement of the concert audience alone.Sources
More on this in Dutch media
- RTL Nieuws — „harry styles”
- FD — „harry styles”
- AD — „harry styles”