Eurovision could bring in £40m to Liverpool
10 months ago
Eurovision has arrived in Liverpool and already the city is alive with the sound of music and dazzling art displays.
It’s been predicted that the Song Contest could bring in as much as £40 million to Liverpool’s economy as people visit the city from far and wide.
Thousands of visitors are expected to enjoy the celebrations in Liverpool, NatWest predicts that Eurovision fans will spend at least £40 million over the course of the event.
The bank used Visit Britain domestic and overseas visitor spending data as part of its research to make the overall estimate.
NatWest estimates that overseas visitors are likely to spend in the region of £28 million, while visitors from the UK will spend around £12 million in the city on hotels, accommodation and entertainment.
Malcolm Buchanan, chairman of the North Regional Board at NatWest, said:
“While the contest is coming to Liverpool because of awful global events, it is certain the city will put on a fantastic show that does the UK proud as custodians of Eurovision on behalf of Ukraine.
“We know that visitor economies across the North suffered greatly during the pandemic, so it is fantastic that the city will benefit from the increase in visitors and spending that an event like this brings.
“Hopefully, as well as acting as a short-term boost for business, the song contest will also be a catalyst for further long-term growth in the city’s economy.”
Janice Mears, head of business growth at Growth Platform – Liverpool City Region Growth Company, said:
“The Eurovision Song Contest is such an exciting opportunity for the Liverpool City Region.
“Not only will people across the globe be watching this iconic event, but we also expect 100,000 extra visitors staying and enjoying our fantastic region, which of course means a huge boost in visitor spending.
“However, that isn’t the only benefit. Having such an iconic event here has enabled us to highlight to potential job seekers the significant role that hospitality plays in making sure visitors have an exceptional time here.
“That is why we have, with partners, been running a number of recruitment fairs across the region to fill current vacancies and to illustrate the exciting career opportunities available in the hospitality sector.”