Live music events add £1bn to UK economyFestivals and concerts crucial to economic growth
16 May 2011
New research has found that live UK music events inject almost £1bn a year into the UK economy.
The study by UK Music, an organisation representing the UK's commercial music industry, says that the 7.7 million visits to festivals and concerts in 2009 resulted in £1.4bn being spent - equivalent to a contribution of £864m to the economy.
Almost one-fifth of the total spend came from overseas tourists, who generally spend 25% more than non-music tourists, while the spending is also said to have sustained approximately 19,700 jobs.
One of the biggest attractions is Glastonbury festival, which is said to contribute over £100 million annually to the national economy.
If you're buying tickets to a live music event this summer, read our nine ways to spotting scam ticket sites.
Music tourism vital to the economy
UK Music has used its findings to issue a list of recommendations to Government, including the introduction of a national 'live music tourism strategy', the aim of which to increase the number of overseas music tourists.
Feargal Sharkey, the former lead singer of the Undertones and now chief executive of UK Music said: 'The message is crystal clear: music provides a huge boost to UK tourism, it drives growth, it sustains thousands of jobs across all regions and it enhances our lives.
'I am optimistic that policy-makers will view this data and acknowledge there is even more we could achieve, especially when it comes to attracting overseas visitors. The rest of the world clearly recognises the importance of music to the UK. It is time we did similar.'
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