How Liverpool Can Build On Eurovision’s Legacy?
Subvention funds, public realm investment and cultural impact – how Liverpool is planning for the future to build on its Eurovision legacy for the long term.
Liverpool BID Company will be bringing businesses from the city together after Eurovision to examine ways in which the city can help to attract more investment and major events that can support its hospitality and leisure industries.
It is estimated Eurovision will bring an additional £250m to the city’s economy over the next three years. While major international events like Eurovision and their additional public funding may not happen frequently, for many businesses and figures within the city centre, they are evaluating how the city can build on the Eurovision opportunity, conscious of the fact that public spending may not increase in the next three years.
Over the next four years, £4m will be spent by the city’s new Accommodation BID to attract major events, like the Open Golf and Labour Conference.The BID has established a subvention fund which focuses on drafting bids and marketing the city and its offer to those organisations that look for host cities years in advance.
Marcus Magee, Chair Accommodation BID and Liverpool Hospitality, says the investment will sell Liverpool’s ability to cater for tens of thousands of visitors.
“There is still some capacity in Liverpool’s hotels as Eurovision approaches the final stretch and there’s still an opportunity for people to enjoy the hospitality the city will have to offer. What we know is that conferences and major cultural and sporting events convert visitors to hotel stays and spend. It’s a critical ingredient in our visitor economy. Instead of a tourist tax, which we believe will deter visitors, instead as a sector, we saw the value in investing into a business strategy that allows us to be part of those campaigns and that approach attracting events. Eurovision reaches 161 million viewers, according to the ESC’s own estimates. There are 75 million unique viewers. The advertising value of this is €702m. The importance of being able to showcase Liverpool and its offer to this audience is huge”.
Over the past two decades, Liverpool’s visitor economy has grown substantially. In 2019, before Covid, there were 37.06m day visits and overnight tourist trips to Liverpool. Because of these visitors, the visitor economy was worth £3.35bn, which supported over 36.9k jobs.
With a levy paid by those with a rateable value above £45k, it is predicted the Accommodation BID would help create jobs and increase the economic performance of the city, with 200 jobs created in year 1 and £10.6m created economically, rising to 311 jobs in year 5, with £16.5m added to the city’s GVA. Much of that has been driven by Liverpool’s cultural offer.
Mark Da Vanzo is Chief Executive of Everyman & Playhouse:
“The Liverpool Everyman and Playhouse are two nationally significant theatres and with approximately 24% of our audiences travelling from outside the Liverpool City Region, we’re proud to be a driver of city visitors. We’re delighted to be welcoming Eurovision to the city this month and will be playing our part in delivering the EuroFestival. We’re anticipating increased interest in Liverpool following Eurovision and we’re looking to keep the pop-tastic party going with a new musical adventure for families, Alice in Wonderland, at the Playhouse in July.”
In Turin in 2022, economic analysis has revealed that 55,000 visitors to Turin came to various Eurovision events. 57% of visitors that week said they were visiting for the Eurovision Song Contest. €11m Euros were spent by these 55,000 visitors. Out of the 55,000 that came to Turin, only 28.3% did not stay overnight. Those staying in a hotel accounted for 4.4m worth of revenue and 6m worth of revenue generated from people staying overnight in non-hotel accommodation. For future legacy, the advice from the former host city is to continue working together.
Dario Gallina Torino Chamber of Commerce President, host of Eurovision in 2022.
“High returns are not automatic. Success comes from the involvement of all the local institutions that enriched the ESC event with numerous actions planned together: the media centre in the heart of the town, the concerts in the “Eurovision Village” organised in a public park, the involvement of tour operators, shopkeepers, hoteliers, touristic hosts, taxi drivers, restaurant owners. The whole city was “branded” Eurovision and the atmosphere was tangible even for those who did not have a ticket for the show”.
See Turin’s economic impact report here.
Photo credit to Mark McNulty / Marketing Liverpool