Grand National worth £60m to local economy, study finds

The 2022 Grand National Festival was worth an estimated £60m to the local economy, a study has found.

Researchers at Liverpool Business School looked at the impact of the three-day festival on the economy of the Liverpool City Region and said it was a "massive boost".

The average spending by spectators was calculated using survey responses.

This year's Grand National Festival gets under way at Aintree Racecourse later and runs until 15 April.

The team of researchers, based at Liverpool John Moores University, said the annual event provided a huge windfall particularly to the hospitality and entertainment sectors.

"It is clear that the Grand National remains a major player with the Liverpool City Region, UK sporting and global racing calendars," the team said.

The team, comprised of Dr Steve Nolan, Dr Matej Christiaens, Dr Christopher Faulkner and Dr Matthew Hindmarsh, said the bulk of the money came directly from spectators' spending.

"This is a massive boost to key local sectors, particularly hospitality and entertainment, which we would not see without the pull of the festival."

The study said nearly 50% of the total economic impact was down to the flagship Grand National Day.

The annual race meeting saw crowds return for the first time in 2022 after the coronavirus lockdowns of 2020 and 2021.

Local businesses from hoteliers to hairdressers, barbers and nail salons extended opening hours to meet demand.

The report, published by Aintree Racecourse, found the total economic impact of the 2022 festival was an estimated £60,186,414.

It said the event had a loyal following with nearly all attendees coming with friends or family. Only 7.2% came alone or with colleagues.

Dickon White, the North West's regional director for The Jockey Club, said the findings would help with future planning of the event.

"Of course, we already knew how massive an event the Grand National is but it is very informative for us to see it quantified with detailed economic data," he said.

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