Liverpool claims 650% return on Capital of Culture spend

The final report of the Liverpool Culture Company, published this week, says £800m was generated for the city's economy in 2008 against a £122.4m budget.

The 36-page report was published posthumously by the Liverpool Culture Company, which was wound up on 31 July 2009, and details the run-up to and results of the European Capital of Culture last year.

The five-year spend from 2003/04 when the winner of the UK round of ECoC was announced, to 2008/09 was £122.4m, rising from £7.5m in the first year to £36.1m by year five.

The source of funds breaks down as follows:

  • Liverpool City Council: £75.1m
  • Grants (Arts Council, DCMS, EU, NWDA): £30.8m
  • Commercial programme (sponsors): £12.5m
  • Miscellaneous (tickets sales, merchandising): £4.0m

A celebrated artistic programme saw 7,000 events and 10,000 artists involved, generating 15 million visits to a cultural attraction by residents and tourists.

The year was boosted significantly by the opening of the Arena & Convention Centre, pictured, and Grosvenor's Liverpool One regeneration project.

The Tate Liverpool art gallery and Merseyside Maritime Museum each received 1 million visitors. Hotel occupancy peaked in October 2008 at 81% and averaged 77% during the year.

One quarter, or 3.5 million of all visitors, were new to the city. There were 120 international delegations and 13 Royal visits.

The report states that the media value of coverage of events was £200m and the economic benefit to the Liverpool city region was £800m.

Perhaps most tellingly – 79% of people surveyed said the city was on the rise. The impact of the year-long calendar of events on the city's reputation is perhaps priceless.

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And just think what the spend would have been if the year had been outstanding instead of like a curate’s egg

By Cynic

cynic, you misery guts, cap of cult was boss. only regret is culture company should have been less secretive in 2007 then there wouldn’t have been the big public squabble over the listings.

off to check wikipedia for what a curate’s egg is. think i remember reading it in a history lesson once.

By Optic

Why is it always so hard for Liverpool to acknowledge success?!