Oasis shows to boost capital's economy by £27m – report

THE two Oasis reunion concerts at the Principality Stadium in July will generate a net economic impact for the Cardiff economy of nearly £27m, new research suggests.

- SION BARRY Business editor [e-mail]

The analysis, undertaken by the Centre for Economics and Business Research (Cebr) on behalf of Novuna Personal Finance, said the two opening concerts of the Oasis reunion tour will generate a total spend of just over £100m.

This includes £23.4m on tickets and £10.7m on merchandising. There will be 149,000 concert-goers at the stadium over the two nights.

The net economic impact for Cardiff of £26.8m does not include the spending impact of local concert-goers, who are defined as living in Cardiff or within a 10-mile radius. It is made up of £6.1m on travel, £4.5m accommodation, £15.4m food and drink and further spending of £12.8m.

It also doesn’t include spending on non-local sources, so excludes revenues from tickets, merchandise and non-local travel. The net figure is derived after also accounting for a £12m deduction for leakages.

This includes a negative spending assessment of local residents who will be deterred from, say going to restaurants, bars or shops in the city due to the number of concert goers, as well as those who opt to spend time out of the city during the concerts.