© ABBA Voyage
ABBA Voyage has released an analysis of its cumulative social and economic impact across London and the UK.
Compiled and assessed by global music, culture and creative economy consultancy Sound Diplomacy, the report covers the impact of ABBA Voyage since its opening (May 2022 – May 2024). For the first time, ABBA Voyage has also undertaken a complete sustainability analysis of its second operational year (May 2023 – May 2024) with experts in arena sustainability, A Greener Future (AGF).
Created with Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Frida Lyngstad, directed by Baillie Walsh, and produced by Svana Gisla and Ludvig Andersson, ABBA Voyage has been globally celebrated as a landmark event in music and entertainment since opening on 26 May 2022, bringing together the physical and the digital in a first-of-its-kind live concert experience that, since opening, has seen over two million visitors, 31% of which had travelled from outside of the UK.
The analysis shows that ABBA Voyage has had a significant and positive economic and social impact not only on London and the local area (the boroughs of Newham, Hackney, Tower Hamlets, and Waltham Forest, closest to the arena location in Pudding Mill Lane) but also on the wider UK. The operation and attendee spending are significant generators of economic contribution to the local, city, and nationwide economies, demonstrating that ABBA Voyage continues to impact the country’s economic wealth significantly.
UK-wide economic impact:
- ABBA Voyage contributed £1.40 billion in turnover to the UK economy between May 2022 – May 2024 and £774.3 million in GVA (Gross Value Added).
- The multiplier effect of ABBA Voyage on the UK economy equates to every £1 of ABBA Voyage’s revenue, generating a turnover of £6.00 – surpassing the national multiplier effect of other industries such as accommodation, food and beverage and construction along with other creative industries.
- ABBA Voyage has enhanced employment opportunities for 10,044 annual workers in the UK, including those directly connected to the concert and those in different sectors that are supported by ABBA Voyage’s existence via attendee spend (i.e. waiting staff, sales staff, chefs, hotel clerks), as well as others in their supply chain.
London economic impact:
- Since opening in May 2022, contribution to the London economy totals £1.04 billion in turnover and £573.8 million in GVA.
- The multiplier effect of ABBA Voyage on the London economy equates to every £1 of ABBA Voyage’s revenue, generating a turnover of £4.45.
- Attendees spent on average £220 per day in London, in addition to the cost of the ticket price to ABBA Voyage.
Local area economic impact:
- 19% of the turnover contributed to the UK economy was generated in the local area (boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest), which equates to £262.1 million turnover and £143.2 million in GVA.
- International visitors contributed £72.6 million (31%) of the direct attendee spend in the local area since May 2022, and residents outside of London (within the UK) contributed £142.2 million (61%).
- Since opening in May 2022, ABBA Voyage has generated an average daily spend per attendee of £115 locally, resulting in a total spend of £233.2 million in the local area (boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest).
- ABBA Voyage has provided employment opportunities for an average of 2,805 workers in the local area, including those directly connected to the concert and those in other sectors that are supported by ABBA Voyage’s existence via attendee spend (i.e. waiting staff, sales staff, chefs, hotel clerks).
Social impact:
- ABBA Voyage has contributed an estimated social value of £46.5 million since opening, with £25.8 million attributed to attendees outside London. Of this total, around £3.2 million was generated by ABBA Voyage’s pro-social activities.
- Around £8 million of the well-being created by ABBA Voyage relates to people who attended the event from London outside of the local area, with £1.5 million relating to attendees from the local area.
- Social benefits generated the most significant social value since opening (£1.6 million), mainly due to investment into local and global charities through donations and volunteering, alongside job benefits (£1.4 million), which prioritised hiring local workers for entry-level positions.
ABBA Voyage employees, local and global charities, and the local community were the largest beneficiaries of the organisation’s activities. Employees received £1.33 million worth of social value through positive employment practice, local and global charities benefitted from £837,593 million, and the local community received £769,794 million worth of social value through benefits, such as improved local security.
Craig Hartenstine, Group CEO for ABBA Voyage said, “Joining ABBA Voyage as its new Group CEO and learning that the concert has contributed over £1 billion to the UK’s economy in its first two years of operation filled me with admiration for the team and instilled in me a greater sense of purpose. As we move forward, we endeavour to ensure that the concert continues to have a sustained and tangible impact on our local communities, our home city and the country as a whole.”
The Mayor of London, Sadiq Khan said, “ABBA Voyage has been a phenomenal success story for London, boosting our economy by more than £1 billion and showing again why our capital is a global leader for music and culture. The fantastic show is an enduring testament to ABBA’s timeless popularity, as well as providing cultural, financial and social benefits. London is proud to host ABBA Voyage and we look forward to continuing to welcome fans from far and wide to see this unique concert as we build a better London for everyone.”
The full report is available upon request.
Click here to find out more about ABBA Voyage.
