Blog: Behind the Scenes of Analysing Eurovision 2023’s Economic Impact
Graham Russell is an economist and Chief Executive of AMION Consulting. He has over 30 years’ experience in economic consultancy and is a nationally recognised expert specialising in business cases, economic analyses, economic impact assessments, feasibility and funding, project appraisals and policy evaluation and development. He has directed numerous economic impact and evaluation studies including of cultural and heritage projects and programmes and has prepared guidance on subjects such as additionality and Cost Benefit Analyses. But how was his Eurovision experience?
As a UK economics consultancy with its headquarters in Liverpool, the opportunity to work on the economic impact of Eurovision 2023 in Liverpool was a thrilling prospect. As it turned out, it was!
Our study analysed the direct, indirect, and induced effects of hosting Eurovision in Liverpool using available primary and secondary data. Our approach combined both quantitative and qualitative research methods which made it an incredibly intricate undertaking.
Primary and Secondary Data Collection
The foundation of our analysis lay in the collection of data. Primary data collected by Spirul (including spending patterns, viewpoints, and insights) was obtained through surveys, interviews, and on-site observations. An impressive 3,500 surveys and primary research inputs were collected from event attendees, visitors, and residents. This primary data allowed us to understand the immediate economic impacts as well as support a better understanding of visitor dynamics.
To validate and enhance our analysis, we turned to secondary data sources. These sources included ticketing data, official reports, economic indicators, and a plethora of other valuable information.
We drew information from official European Broadcasting Union (EBU) Eurovision Song Contest data, the BBC, Liverpool City Council, national government reports, tourism statistics, industry association reports. Innovation in economic analysis is ongoing and AMION was able to utilise Footfall and Mastercard spending data provided by Liverpool Business Improvement District and Liverpool ONE, whilst mobile phone data supplied by the Liverpool City Region Combined Authority (LCRCA) added yet another layer of insight.
At this stage, our assessment shows that Eurovision 2023 brought very positive short-term economic benefits, boosted the city’s profile, and contributed to various community and employment initiatives, hinting at the potential for long-lasting impacts in the upcoming second part of the report, due in 2024.
Importantly this isn’t all! AMION Consulting is excited to continue working on the project and will be exploring the longer-term impacts using further data sources and insight to report on the year-on impacts that Eurovision has brought.