Leicester City winning the Premier League title could be worth almost £22m to the city’s economy, East Midlands Chamber* has estimated.
The Chamber has analysed available data to calculate the economic impacts of the club’s historic win.
Scooping the title is worth an estimated £150m¹ to the club in terms of prize money, Champions League cash and increased revenue from tickets and hospitality, but the city could benefit from a wider economic boost of almost £22m on the back of the club’s success this season.
Figures from travel company goeuro’s Football Price Index² show that a season in the Premier League is worth almost £17m to the city, based on the amount spent by fans on accommodation, transport and food and drink.
And that could rise by an additional £5m next season when the club competes in the group stage of the Champions League and welcomes visiting fans to the city – plus an extra £1.3m for each extra round it plays in, should it progress beyond the first round of matches.
There will also be a host of intangible benefits to the city, such as enhanced media profile and increased workplace morale, which could boost tourism, inward investment and productivity.
Chamber Chief Executive Scott Knowles said: “Our congratulations go to all the players, staff and management Leicester City, one of the Chamber’s key members in Leicester, for this remarkable achievement. It has put the city on the global footballing map and has captured the imagination of sports fans around the world.
“Leicester City competing in the Premier League is worth around £17m to the city in terms of fans’ spend and this will be boosted significantly next season when the club embarks on its first ever Champions League campaign.
“There will also be other benefits that you can’t really put a value on. It will put Leicester in the spotlight of the world’s media which, from an investment point of view, is publicity you simply cannot buy, while the feel-good factor it has created will boost workplace morale long into the summer, translating into productivity gains for many local firms.
“Coming on the back of the successful hosting of Rugby World Cup games last autumn and the discovery and reinterment of Richard III, and the hosting next year of games in the ICC Women’s Cricket World Cup, this phenomenal achievement will help to further establish Leicester as a great place to live, visit, invest and do business.”