Football is the UK’s national sport.
The Premier League is currently the wealthiest division in the world, and arguably the most popular. It is certainly the most watched.
But what does the most expensive football league, give back to the UK? An incredible £3.36 billion was contributed last year.
The Premier League is a massive contributor when it comes to travel and leisure. Local communities surrounding Premier League teams, are the ones who really benefit here.
Stadium utilisation just proves how important these games are, with the average attendance in England’s top league at 95%.
With 380 matches shown across the globe and each game having an average audience of 730 million, it is easy to see just why it’s so popular.
Chairman of Swansea City, Huw Jenkins highlighted the enormous benefit of being in the Premier League after the Welsh club were promoted.
He noted that even towns within a ’50-mile’ radius of the City were seeing the financial benefits of the club’s involvement with the Premier League.
The value of the top flight is easily visible just in club share prices.
He said, ‘Being in the Premier League and the economic benefits that it brings has been key. Possible stadium purchase and expansion, continuing club growth and the city of Swansea being known around the world are all linked to our success on the Premier League stage.’
There are various revenue streams that the government benefits from, due to the Premier League both direct and indirect.
A total of more than £6.2 billion is generated in economic output, which contributes a total of £3.4 billion to the overall UK GDP.
One of the aims for the government, however, must be to have some this filter down within the leagues and further throughout the community, in order to help sustain this growth.
The Premier League also has massive value when it comes to jobs prospects.
Although not everyone can be a professional footballer, there were 103,000 full time employees accounted for last season amongst top flight clubs.
A further 95,483 jobs are available within hospitality, retail and catering because of the league’s massive following.
Because of such an extraordinary economic impact, the Premier League can offer huge amounts of money for Government coffers.
£2.4 billion was given last season in terms of combined tax contribution.
With footballers earning such big salaries, £941 million was given with a further $475 million paid through National Insurance.
But it doesn’t end there, VAT adds a further £390 million, with corporate and business rates adding an extra £298 million.
The Premier League undoubtedly has lots to offer the nation. And not only in terms of entertainment.
As the game continues to grow, post Brexit, it could be one of the most important revenue streams for the UK.
Written by Edward Wade
Follow Edward on Twitter @wade_edward
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