Daniel Levy speaks as the Tottenham Hotspur Stadium's near £1billion London impact is revealed
The Tottenham Hotspur Stadium has made a big impact on the national's capital and to the local economy since it opened in 2019, with Daniel Levy giving an update
A newly-published study into the Tottenham Hotspur Stadium has revealed just how much it has contributed to local economy and to London.
The study entitled 'Tottenham Hotspur - An analysis of the club’s socio-economic contribution to the local area' was undertaken by Ernst & Young and released this month. It focused primarily on the 2021/22 season as it was the first full 12 months at the Tottenham Hotspur Stadium with fans in attendance at football matches and events following the pandemic.
The report concluded that the stadium contributes around £900m of gross output to London's economy, generating an additional GVA (gross value added to the economy) of nearly £500m in the capital. There was £344m GVA recorded for the 2021/22 season alone across the boroughs of Haringey, Enfield and Waltham Forest, which far exceeds the £120m per annum generated by the old White Hart Lane stadium in a similar study done in 2015. In the 2021/22 season the stadium generated tax revenue of £194m.
The stadium currently supports 3,700 jobs across the club’s tri-borough area with 1.6m visitors coming to the stadium each year, as well as the social benefits to the area through the work of the club's foundation and community programmes.
The reports states that "over the next four seasons, Tottenham Hotspur projects there will be increased in-stadium and visitor expenditure as a result of an increased number of events at the stadium. This, in addition to a projected increase in commercial revenue, means that the club's contribution to the tri-borough economy is expected to nearly double over the next five years, with GVA of £585m in 2026/27, supporting over 4,300 jobs."
"Delivering tangible benefits to those living on our doorstep has always been a driving factor since we initially undertook the stadium development project – four years on from the stadium’s opening, this report clearly shows the difference it is making to people’s lives and the economic prosperity it is bringing to our community," said Spurs chairman Daniel Levy.
"We will not stand still – with plans for further visitor attractions, notably F1 DRIVE - London, new homes, a new creative quarter and a hotel in the years to come, this area that we are so passionate about will continue to benefit from the club’s investment and being home to one of the world’s greatest football clubs and stadia.
"Everyone involved should be extremely proud of the findings of our latest socio-economic impact report."
The report showed that of the third-party events beyond the football matches, the NFL games brought in the most GVA contribution to Haringey, the tri-borough area and London. Approximately 116,000 spectators attend the NFL games at the stadium each season with around 26% of residing in London, 51% travelling from elsewhere in the UK, and 23% from overseas with 5% of the total travelling from the USA. The games in the 2021/22 season had an £18m GVA impact on Greater London.
The stadium, which will be one of 10 host venues for Euro 2028, has also been racking up new records this year. The study indicates that the five nights hosted of Beyoncé's Renaissance World Tour 2023 grossed $42.2million (£33.4million) which it states was "the highest-grossing engagement ever by a woman, a black artist or any American artist".
During the week of the concerts, figures from Haringey Council showed an increase in footfall on Tottenham High Road of more than 104,000, an increase of 60% on the previous week.
On top of the regeneration of the local area, the stadium development also houses The London Academy of Excellence Tottenham, which sits within the Lilywhite House and received an 'outstanding' Ofsted rating last year.
Nearly three quarters of students have gone onto Russell Group Universities compared to 1% of Tottenham school leavers the year before LAET opened. Forty-five students have earned places at the Universities of Oxford or Cambridge since the school opened in 2017 and the achievements put LAET within the top 2% of state sixth forms nationally.
The Mayor of London, Sadiq Khan said: "It’s fantastic to see the positive impact that the Tottenham Hotspur Stadium has had in the local area – from job opportunities and skills learning to local small business investment. Football has the power to unite communities, and this report shows football clubs can play a major role in building a better and more prosperous London for everyone."
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