Leicester’s Premier League title triumph contributed £140m to the local economy during 2015-16, according to a new study, and that figure is expected to rise again this season.
The Foxes’ historic 5000-1 success delivered a total economic output of £193m, generated taxes of £78m and supported 2,500 jobs, the report by EY for the club and the Premier League estimates.
Leicester’s gross value added to regional GDP was £140m. The club, community activities and match-day tourism directly contributed £110m; £18m was generated in indirect impact on local supply chains; plus a further £11m via induced effects.
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The team’s fairytale march towards a maiden top-flight title attracted 120,000 domestic and international tourists who spent around £6.6m.
Qualification for the Champions League for the first time means those figures are likely to rise again this season. EY tips the European campaign to lure a further 10,000 visitors to Leicestershire and swell tourist spend to £8.4m.
EY chief economist Mark Gregory said: “The sporting and commercial success of the Club in 2015-16 and the projected growth in 2016-17 has allowed it to further embed itself as a key participant in the local economy.
“As the club grows it attracts more fans, employs more people, engages more local suppliers, invests more in community facilities, increases the region’s global profile and elevates its attractiveness to visitors and businesses alike.
“It is clear that with the expected uplift in activity as a result of winning the Premier League and from the additional investments in their stadium and training facilities the club is likely to contribute significantly more to the regional economy going forward.”
Leicester sit top of their Champions League group, having taken 10 points and conceded no goals in their four matches so far, and can secure their place in the last 16 when they host Club Brugge on Tuesday.
They have struggled to replicate that form, or the results which swept them to glory last term, domestically, however, and currently lie 14th in the Premier League, two points above the relegation zone.