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Cash, Cash, Cash! The Abba impact brings £322M enhance to London economic system

They could solely be digital dancing queens – and kings – however the 4 glittery avatars performing each evening in entrance of promote out audiences in east London are pumping severe Cash, Cash, Cash into the capital’s economic system.

That’s the conclusion of a report into the “socio-economic affect” of the bottom breaking Abba Voyage attraction in Stratford revealed on Thursday only a 12 months and a half after it opened.

The evaluation, carried out by strategists Sound Diplomacy and social worth consultancy RealWorth, discovered that the collection of live shows on the 3,000 seater Abba Enviornment contributed £322.6 million in spending, and £177.7 million in additional financial exercise – often called GVA – in its first 12 months.

The sector was designed by STUFISH Leisure Architects.

Abba’s exhibits started in Might 2022 on the £50 million objective constructed venue in Pudding Mill Lane and generated multiple million ticket gross sales – at as much as £181.50 every – by the tip of the 12 months. That made it the sixth most visited paid attraction in London in 2022.

The present function digital “Abbatar” variations of the Swedish quartet – Agnetha Fältskog, Björn Ulvaeus, Benny Andersson and Anni-Frid Lyngstad – performing hits equivalent to Mamma Mia, Voulez-Vous and The Winner Takes it Throughout a 90 minute run time alongside a dwell 10 piece band.

They had been created by way of movement seize expertise from visible results firm Industrial Gentle & Magic and seem as their 1979 variations of themselves. The band members themselves at the moment are all of their seventies.

The report – commissioned by the present’s producers – discovered that the present had siginficant advantages for the encircling boroughs of Newham, Hackney, Tower Hamlets, Waltham Forest with 42% of the whole affect felt in these native authority areas value a complete of £73.7 million in GVA.

The majority of the affect within the native space was from paying for lodging, foods and drinks, transport and purchasing with a mean spend of £103 per attendee on prime of the ticket value, rising to £135 throughout London as a complete.

Abba Voyage was on account of be joined in east London with a brand new attraction from the creators of the Sphere in Las Vegas, however after turning into a political soccer by way of planning the scheme for the 21,000-capacity, 300ft-tall construction in Stratford has been cancelled. The corporate behind this, now aborted, scheme cited a rise of over 700 new jobs would have been created by the attraction.

The report claims ABBA Voyage has supported greater than 5,000 jobs in London, together with these instantly employed on the venue and people in different sectors that depend on spending by guests.

The report additionally highlights how Abba Voyage has drawn hundreds of holiday makers from outdoors London with virtually half the non-ticket spend from “out of towners” coming from elsewhere within the UK and greater than 40% from international guests.

Michael Bolingbroke, govt producer for ABBA Voyage, mentioned: “The presence of ABBA Voyage is felt in a method that might be enduring. Realizing that in our first full 12 months, the operations of ABBA Voyage has had an financial affect in London of £322 million is extraordinary, and our problem might be to take care of and develop this quantity, and to make sure that its results are lengthy lasting.”

The Mayor of London, Sadiq Khan, mentioned: “The implausible success of ABBA Voyage exhibits as soon as once more how London is the music capital of the world and is roaring again from the affect of the pandemic. I’m so proud that Metropolis Corridor was capable of assist ABBA convey this pioneering present to east London, offering large advantages to each the native space and London’s wider economic system.”

Lyn Garner, Chief Government of the London Legacy Improvement Company, mentioned: “ABBA Voyage has been an incredible success for the realm and a vibrant addition to the points of interest on Queen Elizabeth Olympic Park.”