Analysis of Mastercard data provides new insights into Eurovision spending
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Researchers from across the University of Liverpool have highlighted new insights into the economic impact of Eurovision on the Liverpool City Region.
Using Mastercard transaction data, researchers from the University’s Institute of Popular Music and the Consumer Data Research Centre found that there was a hyper-localised spending boom in the area around Eurovision village during Eurovision 2023.
Published in a Heseltine Institute policy briefing today (Thursday 30 May), the analysis showed that the rise in consumer spending was driven mostly by domestic tourism and was often seen in night-time economy outlets such as bars and restaurants.
The research builds upon previous studies by the Heseltine Institute around the economic and social impact of Eurovision which have used attendee survey data. The use of new Mastercard transaction data has allowed researchers to pinpoint exactly where money was being spent during Eurovision across the city region.
Researchers hope that the findings in the new policy brief can help inform future decision making about the location of large-scale events in cities, and the design of fringe events to support local businesses in the best possible way.
Dr Mathew Flynn from the Department of Music said: “Taylor Swift’s upcoming Eras Tour once again demonstrates how Liverpool thrives when hosting big events. We hope that our analysis can inform future decision making about delivering events in a way which maximises the benefits for our local businesses across the City Region.”
Dr Patrick Ballantyne from the Department of Geography and Planning said: “This research demonstrates the value of smart data in uncovering new evidence about cities at different spatial scales and shows the power of partnering with companies like Mastercard to inform decision-making about the impact of mega events on local economies.”
You can view the policy brief, entitled Eurovision’s economic impact in Liverpool: Insights for Future large-scale events here.