Value of Events Report 2023: £373 million in direct economic impact to the UK
UK Sport has launched its second Value of Events report alongside The Sports Consultancy.
The report looks at the extensive portfolio of major sports events hosted across the UK in 2023 and explores their impact, whether it be economic, environmental, or sporting.
2023 was an extremely successful year for hosting major sporting events in the UK. The investment of £10.8 million from UK Sport and Government supported 16 major sporting events, generating £373 million in direct economic impact to the UK – a 6:1 direct return on investment.
Beyond the economic benefits, major sporting events provided opportunities for people to develop skills and give back to the community; in 2023, UK Sport supported major sporting events led to a total of 204,000 volunteering hours from over 6000 people.
The sporting impact of these events was also significant, with 226 British medals won and 56 Olympic and Paralympic spots secured ahead of Paris 2024. This report paints a vivid picture of how hosting major sporting events has profoundly influenced communities, benefitted athletes, and promoted the UK on a global scale.
Sian Jenkins, Director at The Sports Consultancy said, “Working with UK Sport to research and compile this annual report for a second time has been another inspirational opportunity to take a step back and remember why sport and major events are so important to the UK.
“As evidenced in this report, sport has a unique power to transform lives and unite communities. Once again, UK Sport has invested in a broad portfolio of events that has ensured the length and breadth of the UK feel the impact of major sporting events.”
Esther Britten, Head of Major Events at UK Sport said, “2023 was another year of incredible sporting action across the length and breadth of the UK. We had the downhill mountain biking element of the UCI Cycling World Championships in the Scottish Highlands, the Wheelchair Rugby European Championships in the iconic Principality Stadium in Cardiff, and the Formula Kite European Championships on the south coast in Portsmouth.
“With the support of every National Lottery player, we were able to invest in a programme of events that not only served up a huge helping of extraordinary sporting moments, but also left tangible and long lasting economic and social benefits across each host city and region.”
Download the full UK Sport Value of Events 2023 report below, or visit our Research and impacts page.
Download Value of Events 2023 report here
