ABBA Voyage had a $400m+ economic impact in London in its first year

ABBA Voyage contributed £322.6 million (approx. $408m) in turnover to the London economic system in its first 12 months of operation (between Might 2022 and Might 2023).

That’s in accordance with a brand new evaluation of the live performance sequence’ first-year socio-economic impression on London and the local people.

ABBA Voyage sees digital variations of ABBA carry out seven instances every week in their very own purpose-built 3,000-capacity ABBA Area in East London.

Created with Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad, directed by Baillie Walsh, and produced by Svana Gisla and Ludvig Andersson, ABBA Voyage opened on Might 26, 2022. On this first 12 months of operation, it attracted over 1 million guests, 20% of whom had traveled from outdoors of the UK.

Voyage was created by ABBA along side Sweden-headquartered Pophouse Leisure and Industrial Gentle & Magic, the George Lucas-founded and Disney-owned visible results firm most well-known for engaged on Star Wars properties by means of the a long time.

Founding ABBA member Björn Ulvaeus is a shareholder in, and board member of, Pophouse. The corporate is led by former Universal Music Sweden Managing Director Per Sundin.

Compiled and assessed by international analysis and technique consultancy Sound Diplomacy and social worth consultancy RealWorth, the brand new report covers the primary operational 12 months of ABBA Voyage (Might 2022 – Might 2023), with the intention for the report back to be repeated yearly.

This report additionally features a one-off evaluation of the interval of building for the ABBA Area.

In line with the report, ABBA Voyage “has had a big and optimistic financial and social impression” on London and the native space (the boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest; closest to the Area location in Pudding Mill Lane).

Among the key stats from the ABBA Voyage financial impression report had been that between Might 2022 to Might 2023, ABBA Voyage contributed £322.6 million to the London economic system.

The report explains additional that the £322.6 million turnover determine is calculated because the financial worth of: the products or providers generated by the development of the ABBA Area in London and the native space and; the operation of ABBA Voyage in London and the native space.

Additionally included in that determine is the financial worth of the products or providers offered to the attendees within the native space, when attending ABBA Voyage.

The report additionally exhibits £177.7 million ($225.13m) in GVA (Gross Worth Added) within the first 12 months of operation.

The GVA consists of:

• The funding in ABBA Area’s building minus the intermediate consumption (the prices of all inputs).
• The turnover of ABBA Voyage minus the intermediate consumption (the prices of all inputs).
• The turnover of the opposite sectors of the economic system that profit from the spending of attendees, minus their intermediate consumption.

Elsewhere, the report exhibits that ABBA Voyage has supplied employment alternatives for 5,075 staff in London; together with these immediately linked to the live performance and people in different sectors which might be supported by ABBA Voyage’s existence through attendee spend (i.e. ready workers, gross sales workers, cooks, resort clerks).

In line with the report, 181,674 worldwide guests contributed £42.72 million (36%) of the direct attendee spend within the native space.

Worldwide guests contributed 43% (£83.4 million) of the direct attendee spend in London – with half 1,000,000 guests from outdoors of London (inside the UK) contributing 49% (£96.22 million).

“Realizing that in our first full 12 months, the operations of ABBA Voyage has had an financial impression in London of £322 million is extraordinary, and our problem will likely be to take care of and develop this quantity, and to make sure that its results are lengthy lasting.”

Michael Bolingbroke,  ABBA Voyage

Michael Bolingbroke, Chief Government Officer / Government Producer for ABBA Voyage, mentioned: “The presence of ABBA Voyage is felt in a method that will likely be enduring.

“Realizing that in our first full 12 months, the operations of ABBA Voyage has had an financial impression in London of £322 million is extraordinary, and our problem will likely be to take care of and develop this quantity, and to make sure that its results are lengthy lasting.”

“It was crucial to us as Producers, and to ABBA, that ABBA Voyage would depart a optimistic impression on our local people in Stratford and the findings of this report have solely surpassed what we might have hoped for.”

Svana Gisla and Ludvig Andersson,  ABBA Voyage

Svana Gisla and Ludvig Andersson, Producers for ABBA Voyage, added: “It was crucial to us as Producers, and to ABBA, that ABBA Voyage would depart a optimistic impression on our local people in Stratford and the findings of this report have solely surpassed what we might have hoped for.

“We’re proud residents of East London and to have the ability to make use of domestically, and improve the native economic system is as joyful to us because the live performance itself.

“We totally intend to proceed to evolve our training scheme to offer entry and alternatives to younger folks in our space, and hopefully encourage them to decide on the artistic sector for his or her future employment.”

“The improbable success of ABBA Voyage exhibits as soon as once more how London is the music capital of the world and is roaring again from the impression of the pandemic.”

Sadiq Khan, The Mayor of London

The Mayor of London, Sadiq Khan, mentioned: “The improbable success of ABBA Voyage exhibits as soon as once more how London is the music capital of the world and is roaring again from the impression of the pandemic.

“I’m so proud that Metropolis Corridor was capable of assist ABBA carry this pioneering present to east London, offering large advantages to each the native space and London’s wider economic system.

“It’s a highly effective instance of how tradition has a optimistic impression on our metropolis, supporting jobs and a variety of different industries.

“The present’s success is testomony to the group’s enduring enchantment and I hope it’s going to proceed to please audiences and assist enrich the native economic system for years to come back, as we construct a greater London for everybody.”

“ABBA Voyage has been a tremendous success for the world and a vibrant addition to the sights on Queen Elizabeth Olympic Park.”

Lyn Garner, London Legacy Growth Company

Lyn Garner, Chief Government of the London Legacy Growth Company, mentioned: “ABBA Voyage has been a tremendous success for the world and a vibrant addition to the sights on Queen Elizabeth Olympic Park.

“This modern use of our improvement land has resulted in one in every of London’s finest and hottest customer sights with a large impression on the native economic system and jobs.

“There was nice work on training and expertise for native kids whereas the large footfall and improved lighting have helped to enhance group security, too.”

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KISS not too long ago partnered with Pophouse Leisure Group on their very own avatar present.

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