ABBA Voyage contributed £322.6 million (approximately $408 million) in revenue to the London economy in its first year of operation (May 2022 to May 2023).
This is according to new analysis of the socio-economic impact of the concert series in its first year on London and local communities.
ABBA Voyage sees a digital version of ABBA perform seven times a week at the purpose-built 3,000-capacity ABBA Arena in East London.
Created with Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad, directed by Bailey Walsh and produced by Svana Gisla and Ludwig Andersson, ABBA Voyage will be released on May 26, 2022. It opened. This first year of operation attracted more than one visitor. There were 1 million visitors, 20% of whom were from outside the UK.
Voyage was created by ABBA in collaboration with Sweden-based Pophaus Entertainment and the visual effects company Industrial Light & Magic, founded by George Lucas and owned by Disney. Star Wars A property spanning decades.
ABBA founding member Björn Ulvaeus is a shareholder and director of Pophaus. The company is headed by Persundin, former managing director of Universal Music Sweden.
Compiled and evaluated by Sound Diplomacy, a global research and strategy consultancy, and Realworth, a social value consultancy, this new report covers ABBA Voyage’s first year of operation (May 2022 – May 2023). The report will be repeated annually.
The report also includes a one-time analysis of the ABBA Arena construction period.
According to the report, ABBA Voyage will bring “significant and positive economic and “It had a social impact.”
Some of the key statistics from ABBA Voyage’s Economic Impact Report are that from May 2022 to May 2023, ABBA Voyage contributed £322.6 million to London’s economy.
The report further states that the £322.6 million turnover figure is based on the goods or services generated by the construction of ABBA Arena in London and the local area, and the operation of ABBA Voyage in London and the local area.
This figure also includes the economic value of goods or services sold to participants in their local area when participating in an ABBA Voyage.
The report also shows that GVA (gross value added) in the first year of operation was £177.7 million ($225.13 million).
GVA consists of:
- Investment in the construction of ABBA Arena minus intermediate consumption (cost of all inputs).
- ABBA Voyage’s sales minus intermediate consumption (all input costs).
- Sales of other sectors of the economy that benefit from participants’ spending, minus intermediate consumption.
The report also shows that ABBA Voyage offers employment opportunities elsewhere. 5,075 workers in london. This includes those directly involved in the concert as well as those in other sectors whose participant spending supports the existence of ABBA Voyage (i.e. wait staff, sales staff, chefs, hotel clerks, etc.) .
According to the report, 181,674 Foreign tourists contributed 42.72 million pounds Direct participants (36%) spend in their local area.
International visitors accounted for 43% (£83.4m) of direct attendee spend in London, with 500,000 visitors from outside London (within the UK) accounting for 49% (£96.22m). Ta.
“We know that in its first full year, ABBA Voyage’s operations generated an economic impact of £322m for London, and our challenge is to maintain and grow this figure and ensure that the impact is long-lasting. It’s about letting them do it.”
Michael Bolingbroke, ABBA Voyage
Michael Bolingbroke, CEO and Executive Producer of ABBA Voyage, said:
“We know that in its first full year, ABBA Voyage’s operations generated an economic impact of £322m for London, and our challenge is to maintain and grow this figure and ensure that the impact is long-lasting. It’s about letting them do it.”
“For us as producers, and for ABBA, it is essential that ABBA Voyage leaves a positive impact on the local community of Stratford, and the results of this report have simply exceeded our expectations. ”
Svana Gisla and Ludwig Andersson, ABBA Voyage
ABBA Voyage producers Svana Gisla and Ludvig Andersson added: “It’s vital to us as producers and to ABBA that ABBA Voyage leaves a positive impact on Stratford’s local community, and the findings of this report have only gone above and beyond.” Maybe.
“We are proud residents of East London and being able to employ local people and boost the local economy is as much a pleasure for us as the concert itself.
“We will continue to evolve our education plans to provide access and opportunity for young people in the region, and hopefully encourage them to choose creative fields for future employment. ”
“The incredible success of ABBA Voyage shows once again that London is the music capital of the world and is recovering from the impact of the pandemic.”
Sadiq Khan, Mayor of London
Sadiq Khan, Mayor of London, said: “The incredible success of ABBA Voyage shows once again that London is the music capital of the world and is recovering from the impact of the pandemic.
“We are very proud that City Hall has brought this pioneering show by ABBA to East London, bringing huge benefits to both the local area and the wider London economy.
“This is a powerful example of how culture has a positive impact on our city, supporting jobs and a range of other industries.
“The success of this show is evidence of the Group’s enduring appeal, ensuring that it continues to delight viewers and enrich the local economy as we build a better London for everyone.” I hope that it will contribute to the
“ABBA Voyage has been an incredible success in the region and has energized the attractions at Queen Elizabeth Olympic Park.”
Lyn Garner, London Legacy Development Corporation
Lynn Garner, chief executive of London Legacy Development Corporation, said:
“This innovative use of development land has created one of London’s most popular tourist attractions and has had a huge impact on the local economy and jobs.
“Significant work has been done on the education and skills of local children, and we have also helped to improve safety in the area through increased crowding and improved lighting.”
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