• London proud to be hosting semi-finals and finals of UEFA EURO 2020 this week at Wembley
• Mayor says major sporting and cultural events can play huge part in London’s recovery from pandemic
• New report from London & Partners reveals major events worth £2.5bn over last four years
As England storm into the semi-finals of the UEFA EURO 2020 tournament, the eyes of the sporting world are on London this week and the Mayor of London, Sadiq Khan, has today revealed that major sporting and cultural events could spearhead the capital’s recovery from the pandemic and contribute more than £600m to the city’s economy every year.
London is proud to be hosting both semi-finals and the final of UEFA EURO 2020 at Wembley Stadium. At least 60,000 fans will be at each match – including a large home crowd cheering on England on Wednesday – and the games will be broadcast to hundreds of millions of people around the world.
With excitement building as the competition progresses, the Mayor has revealed that major sporting and cultural events contribute over £600 million on average to the capital’s economy every year and can be a huge catalyst towards London’s recovery from the pandemic.
London & Partners, the business growth and destination agency for London, in association with Hatch, has today published a report that shows the total contribution of all major events between 2017 and 2020 is estimated to represent an injection of £2.51bn to the London economy*. This includes £2.27bn generated by visitor spend on accommodation and non-accommodation expenses such as food and drink, as well as an estimated £238m spent by event organisers.
Sadiq has been clear that major sporting events will play a huge part in rebuilding the economy following the pandemic. With the Wimbledon tennis championships also taking place this week, with a full capacity crowd for the finals, the capital’s economy is set for a big boost as the city welcomes back major events.
The Mayor of London, Sadiq Khan, said: “England’s performance in the EUROs has created a massive buzz and I am so excited that London is hosting both semi-finals and the final of UEFA EURO 2020 this week. This is without doubt one of the most thrilling sporting weeks in the history of our city – and is yet another demonstration of why London is the best sporting capital in the world.
“I cannot wait to watch these games and to see global superstars including Raheem Sterling, Jordi Alba, Manuel Locatelli, and Kasper Dolberg perform at the very highest level at Wembley Stadium – the home of football.
“But this is about much more than just football. Major sporting events such as the EUROs and Wimbledon are worth hundreds of millions of pounds to our economy every year and the return of these events will provide a much-needed boost to London’s economy following the pandemic, generating jobs and spend in our city as well as acting as a great source of pride.”
As coronavirus restrictions continue ease, the Mayor of London, Visit London and the city’s tourism and hospitality industry are backing a £6m campaign, called Let’s Do London, to encourage UK visitors to rediscover their capital city. The campaign will feature a series of pop-up events, public art installations and cultural activities hosted across central London.
With some of the world’s best stadiums and sports facilities, over the past four years (2017-2020) London’s economy has benefitted from a £1.03bn boost generated from hosting sports events alone - such as the ICC Cricket World Cup, the IAAF World Championships and World para-Athletics Championships and the ATP Tennis Finals at the O2 arena.
Should the final Covid restrictions be eased on July 19, London will also benefit from the return of concerts and cultural events such as Wireless Festival, All Points East and the BBC Proms. Events such as this injected a total of £1.48bn in vis¬itor and event organiser expenditure between 2017 and 2020.
The report estimates that every visit to a concert and cultural event generated on average £23 to the London economy, while each visit to a sporting event injected on average £42.
Georgina Warren, Director, Major Events & City Experience at London & Partners added: “Today’s report findings demonstrate the value of major events to London and how much the city’s economy stands to benefit from their return following the pandemic. Major events not only inject billions of pounds worth of visitor spend, they also bring people together and position London favourably on the global stage. They are the backdrop to memories that last a lifetime and that shared experience that we’ve all missed so much in the last year.”
“London audiences are passionate event goers and we’ve missed the buzz and excitement of major events in our city. As restrictions continue to lift, we are seeing lots of interest for sporting, cultural and music events to be hosted in London and its fantastic to see a great line-up of events already set to take place over the coming months. Whether you are a spectator or an event organiser, there is no better destination for a major event and London is very much open and looking forward to welcoming you back.”
Christopher Halpin, NFL Executive Vice-President - Chief Strategy & Growth Officer, said: “The London Games series has become a highlight of the NFL calendar since 2007 and an established part of the UK sporting landscape. As well as operating in world-class stadia, we have been able to stage large-scale events in iconic locations, enjoyed long-term partnerships with outstanding hotels and practice facilities, and worked closely with transportation, health and police services. We are very pleased to be returning to London with two games at Tottenham Hotspur in October and we look forward to many more years of working with London to bring the excitement of our sport to the UK and to strengthen our ties to local communities.”