The Grand National in 2022 contributed over £60m to the local economy, according to new research.
A new report released today found the total economic impact of the 2022 Randox Grand National Festival was estimated at £60,186, 414. The research, carried out by Liverpool Business School at Liverpool John Moores University, assessed the impact last year's festival had on the economy of the Liverpool City Region.
The figures come as the eyes of the racing world turn once again to Merseyside, with the action at Aintree set to get under way on Thursday.
The team of Dr Steve Nolan, Dr Matej Christiaens, Dr Christopher Faulkner and Dr Matthew Hindmarch said: "Our report reveals how much economic activity the Randox Grand National Festival helps attract to the Liverpool City Region. We find that the influx of spectators leads directly to over 40 million pounds of spending.
READ MORE: Unrecognisable days at the Grand National from years gone by
"This is a massive boost to key local sectors, particularly hospitality and entertainment, which we would not see without the pull of the festival. Nearly 50% of the total economic effect is down to those who attend Grand National Day. It is clear that the Grand National remains a major player with the Liverpool City Region, UK sporting and global racing calendars."
Daily averages for spectators' spending activity were calculated using survey responses. The attendance figures for 2022 were then used to aggregate up the spending after excluding any local or casual spectators who are assumed not to influence the overall economic impacts of events.
As well as the economic impact, the report noted the event's loyal following with over 64% of responses attending out of habit. It also found the event is actively engaged with globally with the United States, Australia and India all showing some social media engagement to varying degrees.
Dickon White, regional director for The Jockey Club in the North West, added: "I would like to say a huge thanks to the team at The Liverpool Business at LJMU for producing this report. Of course, we already knew how massive an event the Randox Grand National is for the Liverpool City Region and it is very informative for us to see it quantified with detailed economic data.
"This will provide a great resource to plan for the Randox Grand National Festival in the years ahead.”
READ NEXT:
Man 'loved by so many people' dies after falling from Bootle Strand car park
Gang of masked children have 'zero respect' intimidating police in park
Woman who fatally stabbed partner found guilty of murder
Dramatic moment lorry sent crashing to the ground on M62
Man named one of Liverpool's 'most prolific shoplifters' banned from town
