ABBA Voyage contributed £322.6 million (approx. $408m) in turnover to the London economy in its first year of operation (between May 2022 and May 2023).
That’s according to a new analysis of the concert series’ first-year socio-economic impact on London and the local community.
ABBA Voyage sees digital versions of ABBA perform seven times a week in their own purpose-built 3,000-capacity ABBA Arena in East London.
Created with Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad, directed by Baillie Walsh, and produced by Svana Gisla and Ludvig Andersson, ABBA Voyage opened on May 26, 2022. In this first year of operation, it attracted over 1 million visitors, 20% of whom had traveled from outside of the UK.
Voyage was created by ABBA in conjunction with Sweden-headquartered Pophouse Entertainment and Industrial Light & Magic, the George Lucas-founded and Disney-owned visual effects company most famous for working on Star Wars properties through the decades.
Founding ABBA member Björn Ulvaeus is a shareholder in, and board member of, Pophouse. The company is led by former Universal Music Sweden Managing Director Per Sundin.
Compiled and assessed by global research and strategy consultancy Sound Diplomacy and social value consultancy RealWorth, the new report covers the first operational year of ABBA Voyage (May 2022 – May 2023), with the intention for the report to be repeated annually.
This report also includes a one-off analysis of the period of construction for the ABBA Arena.
According to the report, ABBA Voyage “has had a significant and positive economic and social impact” on London and the local area (the boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest; closest to the Arena location in Pudding Mill Lane).
Some of the key stats from the ABBA Voyage economic impact report were that between May 2022 to May 2023, ABBA Voyage contributed £322.6 million to the London economy.
The report explains further that the £322.6 million turnover figure is calculated as the economic value of: the goods or services generated by the construction of the ABBA Arena in London and the local area and; the operation of ABBA Voyage in London and the local area.
Also included in that figure is the economic value of the goods or services sold to the attendees in the local area, when attending ABBA Voyage.
The report also shows £177.7 million ($225.13m) in GVA (Gross Value Added) in the first year of operation.
The GVA consists of:
- The investment in ABBA Arena’s construction minus the intermediate consumption (the costs of all inputs).
- The turnover of ABBA Voyage minus the intermediate consumption (the costs of all inputs).
- The turnover of the other sectors of the economy that benefit from the spending of attendees, minus their intermediate consumption.
Elsewhere, the report shows that ABBA Voyage has provided employment opportunities for 5,075 workers in London; including those directly connected to the concert and those in other sectors that are supported by ABBA Voyage’s existence via attendee spend (i.e. waiting staff, sales staff, chefs, hotel clerks).
According to the report, 181,674 international visitors contributed £42.72 million (36%) of the direct attendee spend in the local area.
International visitors contributed 43% (£83.4 million) of the direct attendee spend in London – with half a million visitors from outside of London (within the UK) contributing 49% (£96.22 million).
“Knowing that in our first full year, the operations of ABBA Voyage has had an economic impact in London of £322 million is extraordinary, and our challenge will be to maintain and grow this number, and to ensure that its effects are long lasting.”
Michael Bolingbroke, ABBA Voyage
Michael Bolingbroke, Chief Executive Officer / Executive Producer for ABBA Voyage, said: “The presence of ABBA Voyage is felt in a way that will be enduring.
“Knowing that in our first full year, the operations of ABBA Voyage has had an economic impact in London of £322 million is extraordinary, and our challenge will be to maintain and grow this number, and to ensure that its effects are long lasting.”
“It was imperative to us as Producers, and to ABBA, that ABBA Voyage would leave a positive impact on our local community in Stratford and the findings of this report have only surpassed what we could have hoped for.”
Svana Gisla and Ludvig Andersson, ABBA Voyage
Svana Gisla and Ludvig Andersson, Producers for ABBA Voyage, added: “It was imperative to us as Producers, and to ABBA, that ABBA Voyage would leave a positive impact on our local community in Stratford and the findings of this report have only surpassed what we could have hoped for.
“We are proud residents of East London and to be able to employ locally, and enhance the local economy is as joyful to us as the concert itself.
“We fully intend to continue to evolve our education scheme to provide access and opportunities to young people in our area, and hopefully inspire them to choose the creative sector for their future employment.”
“The fantastic success of ABBA Voyage shows once again how London is the music capital of the world and is roaring back from the impact of the pandemic.”
Sadiq Khan, The Mayor of London
The Mayor of London, Sadiq Khan, said: “The fantastic success of ABBA Voyage shows once again how London is the music capital of the world and is roaring back from the impact of the pandemic.
“I am so proud that City Hall was able to help ABBA bring this pioneering show to east London, providing huge benefits to both the local area and London’s wider economy.
“It is a powerful example of how culture has a positive impact on our city, supporting jobs and a range of other industries.
“The show’s success is testament to the group’s enduring appeal and I hope it will continue to delight audiences and help enrich the local economy for years to come, as we build a better London for everyone.”
“ABBA Voyage has been an amazing success for the area and a vibrant addition to the attractions on Queen Elizabeth Olympic Park.”
Lyn Garner, London Legacy Development Corporation
Lyn Garner, Chief Executive of the London Legacy Development Corporation, said: “ABBA Voyage has been an amazing success for the area and a vibrant addition to the attractions on Queen Elizabeth Olympic Park.
“This innovative use of our development land has resulted in one of London’s best and most popular visitor attractions with a massive impact on the local economy and jobs.
“There has been great work on education and skills for local children while the huge footfall and improved lighting have helped to improve community safety, too.”
KISS recently partnered with Pophouse Entertainment Group on their own avatar show.
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