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Crowds returned to the Grand National in 2022 after a two-year hiatus due to coronavirus restrictions
The 2022 Grand National Festival was estimated to be worth £60m to the local economy, according to a study.
Researchers from Liverpool Business School looked at the impact of the three-day festival on the Liverpool City area’s economy and said it was a “massive boost”.
Average viewer spend was calculated based on survey responses.
This year’s Grand National Festival starts later at Aintree Racecourse and runs until April 15th.
The research team, based at Liverpool John Moores University, said the annual event had been a tremendous boon for the hospitality and entertainment industries in particular.
“It is clear that the Grand National remains a major player in the Liverpool City area, in British sport and on global racing calendars,” the team said.
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The study found that nearly all race-goers attended with friends or family
The team, consisting of Dr. Steve Nolan, Dr. Matej Christiaens, Dr. Christopher Faulkner and Dr. Matthew Hindmarsh said most of the money came directly from viewer spending.
“This is a massive boost for key local sectors, particularly hospitality and entertainment, which we wouldn’t see without the festival’s pull.”
The study states that nearly 50% of the total economic impact can be attributed to the flagship Grand National Day.
Crowds returned for the first time in 2022 after the coronavirus lockdowns of 2020 and 2021 at the annual race meet.
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The main race takes place on Saturday at 17:15 BST
The report, published by Aintree Racecourse, found that the total economic impact of the 2022 festival was estimated at £60,186,414.
The event was said to have a loyal following, with nearly all attendees coming with friends or family. Only 7.2% came alone or with colleagues.
Dickon White, North West regional director for The Jockey Club, said the results would help with future planning for the event.
“Of course we already knew what a massive event the Grand National is, but it’s very informative for us to see it quantified with detailed economic data,” he said.
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