Will you be joining in all of the fun in Liverpool? (Picture: BBC/Eurovision/PA)
There isn’t long to go until Eurovision 2023 kicks off, with those lucky fans who managed to get their hands on tickets descending on Liverpool in their droves.
With so many people heading over for the festivities, which come after Ukraine’s victory at the 2022 competition, it should come as no surprise that the UK city will see an increase in spending from members of the public.
However, the amount that visitors are expected to spend during the contest will blow your socks off.
According to an economic forecast, visitor spending in Liverpool during Eurovision could reach as high as £40million – a staggering amount.
NatWest came to this conclusion by conducting research using Visit Britain domestic and overseas visitor spending data.
The banking firm estimates that visitors coming to Liverpool from abroad are likely to spend as much as £28m in the city, while visitors hailing from the UK may spend around £12m on hotel stays, other forms of accommodation and enjoying entertainment.
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Malcolm Buchanan, chairman of the North Regional Board at NatWest, said that considering visitor economies across the North ‘suffered greatly during the pandemic’, it’s ‘fantastic that the city will benefit from the increase in visitors and spending that an event like this brings’.
‘Hopefully, as well as acting as a short-term boost for business, the song contest will also be a catalyst for further long-term growth in the city’s economy,’ he added.
Mae Muller will be representing the UK this year (Picture: Shutterstock/Rex Features)
Janice Mears, the head of business growth at Growth Platform, Liverpool City Region’s growth company, stated that the city can expect around 100,000 additional visitors staying in the region during the 2023 Eurovision Song Contest, ‘which of course means a huge boost in visitor spending’.
‘However, that isn’t the only benefit. Having such an iconic event here has enabled us to highlight to potential job seekers the significant role that hospitality plays in making sure visitors have an exceptional time here,’ she said.
Sam Ryder finished in second in the 2022 competition (Picture: Marco Bertorello/AFP via Getty Images)
‘That is why we have, with partners, been running a number of recruitment fairs across the region to fill current vacancies and to illustrate the exciting career opportunities available in the hospitality sector.’
With Mae Muller set to represent the UK at this year’s contest with her track I Wrote A Song, a poll recently took place in order to ascertain the nation’s most beloved entry.
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It should come as no surprise that Eurovision 2022 runner-up Sam Ryder won top place with his hit song Space Man, which peaked at number two on the UK Singles Chart.
It became the highest-charting UK Eurovision entry since Gina G’s Ooh Aah… Just a Little Bit in 1996.
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Will you be joining in all of the fun in Liverpool?