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UK economy could get £ 4bn boost by hosting major sporting events – report

By November 30, 2021Sports events

The UK economy could be boosted by up to £ 4 billion by hosting major sporting events over the next decade, according to a new report.

UK Sport announced in May that it has booked 97 events in 44 sports it wants to host, including the 2030 Men’s Soccer World Cup and the 2025 Women’s Rugby World Cup.

A report by Ernst and Young, commissioned by UK Sport and the City of London Corporation, indicates that the economy could reap soft power, trade and investment benefits of up to £ 4 billion.

“The findings of this report clearly demonstrate the enormous value that major sporting events in the UK contribute to the economy,” said Simon Morton, COO of UK Sport.

“We can continue to leverage the undeniable value of major sporting events in the UK by entering into partnerships not only with the City of London, but also with the business and private sectors.

“Together, this will help us further raise the nation’s global profile and generate significant social and economic benefits for the communities that act as host cities or villages. “

A feasibility study assessing the merits of a British and Irish candidacy for the 2030 Men’s Football World Cup is underway, while England has been granted preferred bidder status for the 2025 Women’s Rugby World Cup.

Major events already secured include the Commonwealth Games in Birmingham and the Rugby Union World Cup, both of which will take place next year.

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