With the Eurovision Song Contest being held in the UK for the first time in 25 years, host city, Liverpool, is expected to receive a £29.6 million boost to the local economy, a new report has revealed.
The Eurovision Spending Report by trusted savings site VoucherCodes.co.uk, estimates that a total of 15 million consumers are set to watch the contest, either at home or at an in-person events, waiting to see who will lift the coveted microphone trophy.
With the UK expected to spend a total of £470 million during Eurovision week, alone, Liverpool’s £30 million spend accounts for 6% of all money splurged in the country during the contest.
As the host city and former European Capital of Culture, Liverpool, is set to welcome an influx of tourists, with almost 300,000 additional visitors expected to travel to the area for the competition, resulting in an anticipated spend of £21 million. As fans flock to the area ahead of the final weekend, the city will be at maximum capacity – resulting in an additional spend of £6.6 million on travel into Liverpool alone.
For those already based in the city, Liverpudlians are predicted to spend £9 million on food, drink, decorations, and souvenirs, such as ABBA costumes and inflatable microphones, ready to celebrate the music industry from around Europe.
Anita Naik, Savings Expert at VoucherCodes.co.uk commented: “With Liverpool hosting the first Eurovision Song Contest on home soil for 25 years, it’s no surprise to see excitement levels are high amongst residents and Brits further afield. Although it’s encouraging to see such strong spending figures and the boost the event will have on the local economy, enjoying yourself doesn’t have to cost a small fortune.
“Whether you are staying at home or heading out, VoucherCodes.co.uk has great discounts on everything you might need, such as food and drink offers. VoucherCodes.co.uk is a trusted savings site, and all our codes are hand-tested to make sure you bag the bargain you were promised.
“For more information, please visit VoucherCodes.co.uk ”