AccessibilityTottenham Hotspur Stadium

#ClubAnnouncement #Club

Club releases analysis of its socio-economic contribution to the local area

Fri 01 December 2023, 10:00|Tottenham Hotspur

Club’s contribution to London economy rises to almost £1bn in gross output and £500m GVA, with boost to local economy nearly trebling since Tottenham Hotspur Stadium opened

An in-depth analysis of Tottenham Hotspur’s socio-economic impact has revealed a nearly three-fold growth in Gross Value Added (GVA) and additional jobs supported each year across the local area – with further growth estimated for the coming years - as a direct result of its new stadium and activities.

• Tottenham Hotspur contributes around £900m of gross output to London's economy, generating an additional GVA of nearly £500m in London, new report finds
• The £344m GVA recorded for the 2021/22 season, across the London Boroughs of Haringey, Enfield and Waltham Forest, far exceeds the £120m per annum generated by the Club’s old White Hart Lane stadium in 2015, and is expected to rise to £585m by 2026/27
• Analysis finds 3,700 jobs are currently being supported by the stadium across the Club’s tri-Borough area
• Additionally, Tottenham Hotspur Stadium has been announced as a host venue for UEFA EURO 2028 in the UK & Ireland

As envisaged, the opening of Tottenham Hotspur Stadium in April, 2019, has been a landmark event in the socio-economic uplift of the Club’s local area which has seen, in addition to Tottenham Hotspur matches, events such as NFL, concerts, boxing and rugby arrive in London N17 and provide a further boost.

The study, carried out by EY, focuses on the 2021/22 season – the first full 12 months of events with fans in attendance since the stadium’s opening, following the COVID pandemic, and shows how the Club’s record investment is helping support residents and businesses in one of the most deprived parts of the Capital.

The report’s publication follows the stadium being announced as a host venue for UEFA EURO 2028 in the UK & Ireland – a digital version of the report can be found at the foot of this article.

EY found that the Club contributes around £900m of gross output to London's economy, generating an additional £478m of GVA in London.

A benchmark report was produced in 2015, while the Club was still playing at its old 36,000-capacity White Hart Lane stadium, measuring the impact on GVA and employment the Club’s activities deliver across a tri-Borough area of Haringey, Enfield and Waltham Forest.

Standout figures include:

  • £344m GVA (£296m in Haringey specifically), in comparison to the £120m GVA per annum being generated in 2015
  • An estimation that the Club’s socio-economic impact will continue to grow in the years to come, with an estimated £585m GVA and 4,300 jobs expected to be supported during the 2026/27 season
  • 3,700 FTE (full-time equivalent) jobs supported - 2,800 in Haringey specifically - inclusive of 1,800 directly employed by the Club, 1,600 supported through supply chains and a further 300 as a result of induced effects – in comparison to the total 1,800 jobs supported in 2015
  • £194m of tax revenue generated within the UK
  • £1.2bn of investment in the stadium and surrounding area to date – the largest private sector investment in Haringey

The report also highlights the socio-economic impact of non-football events specifically, with two NFL games and four concerts in 2021/22 delivering c.£10m GVA.

The report does not include the more recent five-night run of global superstar Beyonce’s tour in May 2023 which was recorded as the highest grossing engagement ever by a woman, a Black artist, or any American artist.

Findings are particularly significant in the wider context of the tri-Borough area:

  • In 2019, Haringey contained wards that were amongst the 5% most deprived in England
  • Median gross weekly pay in the area was 17% less than the national average in 2020
  • North Tottenham – where the stadium is located – remains within the top 10% most deprived neighbourhoods in England, 12 years on from the London riots
  • Unemployment rose to a peak of 6.7% - 1.3 percentage points above the London average – at the height of the pandemic in 2020

EY’s report also looks into the qualitative socio-economic impact Tottenham Hotspur is having within its communities through the continued work of its charitable Foundation and the London Academy of Excellence Tottenham – a Sixth Form college sponsored by the Club on its stadium campus, which has sent nearly 75% of students to Russell Group Universities, including 45 students to Oxford and Cambridge, since opening in 2017.

Local businesses are benefiting too. One such beneficiary is Beavertown, which was founded in 2011, in a north London kitchen, and moved to Tottenham in 2014. Beavertown is now the largest craft brewer in London, supporting over 100 jobs, and was last year acquired by Club partner, Heineken. Beavertown operates a microbrewery in the Tottenham Hotspur Stadium – a world first – where an exclusive beer called One of our Own is made and sold. Beavertown also partnered with the Club to re-open the historic Corner Pin Pub on the High Road.

Daniel Levy, Chairman, Tottenham Hotspur, said: “Delivering tangible benefits to those living on our doorstep has always been a driving factor since we initially undertook the stadium development project – four years on from the stadium’s opening, this report clearly shows the difference it is making to people’s lives and the economic prosperity it is bringing to our community. 

“We will not stand still – with plans for further Visitor Attractions, notably F1 DRIVE - London, new homes, a new creative quarter and a hotel in the years to come, this area that we are so passionate about will continue to benefit from the Club’s investment and being home to one of the world’s greatest football clubs and stadia.

“Everyone involved should be extremely proud of the findings of our latest socio-economic impact report.”

The Mayor of London, Sadiq Khan said: “It’s fantastic to see the positive impact that the Tottenham Hotspur Stadium has had in the local area – from job opportunities and skills learning to local small business investment. Football has the power to unite communities, and this report shows football clubs can play a major role in building a better and more prosperous London for everyone.”

Cllr Peray Ahmet, Leader of Haringey Council, said: “We welcome having one of the world’s best football and events stadiums in our borough and the socio-economic benefits this brings to people living in the area. 

“We have seen the impact of concerts such as Beyonce with thousands of people from across Europe and the rest of the world coming into Haringey to see everything we have to offer and the positive impact on our local businesses and communities.

“We are honoured that the Tottenham Hotspur Stadium has been chosen as one of the venues for Euro 2028. It well and truly puts our borough on the map, and we should be proud that the whole world will be watching us.”

David Lammy, MP for Tottenham, said: Ever since the building of the new stadium, Tottenham Hotspur has shown a proactive commitment to community development, job creation and economic uplift. This report is a testament to the Club’s dedication to making a real difference to the lives of my constituents.”

Peter Arnold, Chief Economist & Partner, EY, said: “The opening of Tottenham Hotspur Stadium in 2019 has formed part of a wider ongoing regeneration of the area. The results are impressive — Tottenham Hotspur can be justifiably proud of the increasing impact it generates for the local economy and community. 

“Tottenham Hotspur invests a great deal in its local community, both through its Foundation and through wider initiatives undertaken by the Club. The report highlights how the Club and Foundation harness the power of football to improve the lives of youth, foster employment, develop skills, and promote sport participation, health and wellbeing.”