Eurovision expected to boost Liverpool economy

The Eurovision Song Contest could bring a £30 million boost to Liverpool’s economy.

The host city of the 2023 competition was announced on Friday night and by Saturday morning the hotels were sold out, with some accommodation advertised for more than £4,000 a night.

Liverpool Culture Director Claire McColgan said she believes the predicted economic impact of £30m is an underestimation for Liverpool, where the tourist economy makes up 47 per cent of the economy.

“Things are pretty bleak so there’s light at the end of the tunnel, where you know this city is going to be packed for a month, either side of Eurovision will keep you going if you’re an entrepreneur,” she said. small business.

This is a significant boost. It will be a hit for not only the city center but the city area as wellBill Addy, BID

“That is one of the reasons we decided to do it because we wanted to absolutely protect and stabilize the sector that has been affected by Covid and will now have to go through the cost of living crisis and what we are coming. They are people’s work and life.”

The competition will be sponsored by a combination of local and national government sponsorship, as well as broadcasters.

Ms McColgan said it would be “absolutely worth the investment”.

Bill Addy, chief executive of Liverpool Business Improvement District (BID), said many in the city woke up with a hangover on Saturday after celebrating the news.

“The moment is awakening awareness, now the hard work begins,” he said. It took a lot of hard work to put together the bids, convincing the BBC and the European Television Union that Liverpool was the place to go.

“The team has done it, now we have to deliver.

“Liverpool’s tourist economy is thriving and recovering from the pandemic. We were worried about what would happen this fall and we are still very concerned about the impact of the increased cost of living.

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Claire McColgan, director of Culture Liverpool, Bill Addy, managing director at Liverpool Bid Company and Faye Dyer, chief executive officer of ACC Group, outside the Liverpool MandS Arena after the city was announced as Eurovision host (Peter Byrne). /PA)

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“This is a significant boost. It will be a hit not only for the city center but for the whole city area.”

He said the contest could have a lasting positive impact on the city, with 160 million people from around the world expected to watch it on television.

He added: “When we understand the full cost of this, we’ll realize that it’s really a significant investment in the medium to long term future and it’s for job security, that’s it. is to secure opportunity for the whole city.”

https://www.independent.ie/entertainment/eurovision-expected-to-bring-boost-to-liverpool-economy-42050590.html Eurovision expected to boost Liverpool economy

Fry Electronics Team

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