ABBA Voyage Avatar Concert Boosts London's Economy, Donates 322.6 Million Turnover

ABBA virtual concert (Instagram @abbavoyage/Johan Persson)

JAKARTA - ABBA Voyage boosted London's economy with a turnover of nearly 323 million in a one-year period, according to a new report.

The experience of the avatar concert which continues until at least November 2024 at ABBA Arena with a capacity of 3,000 people at Queen Elizabeth Olympic Park provides a huge financial boost for London and the East London region around the site.

According to research compiled by Sound Diplomacy and RealWorld, the report covers the period May 2022 to May 2023 and found that the show contributed 322.6 million turnover to the economy of London and GVA (Gross Value Added) of 177.7 million. million pounds via Music Week.

"Operation and participant spending are the producers of a sustainable economic contribution to the local economy and the entire city, showing that as long as ABBA Voyage is in London, this has the potential to contribute to the city's economic wealth," the report reads..

Twenty-two percent of the total revenue is generated in the local areas of Newham, Hackney, Tower Hamlets, Waltham Forest which are equivalent to turnover of 134.1 million pounds and GVA of 73.7 million.

Contributing factors include spending on accommodation, food and beverages, transportation, shopping and entertainment.

In addition, ABBA Voyage has provided job opportunities for 5,075 workers in London. This includes those directly related to concerts and sectors affected by performances including staff at restaurants, sales, hotels, and more.

42.72 million (36 percent) of direct participant spending in local areas was given to 181.674 international visitors.

The presence of ABBA Voyage is felt to last a long time. Knowing that in our first full year, the operation of ABBA Voyage has had an economic impact in London of 322 million is extraordinary, and our challenge is to maintain and increase this number, and ensure that the impact lasts a long time, Michael Bolingbroke, CEO and executive producer of ABBA Voyage, said.

In ABBA Voyage's five-star review, NME described the concert as a mega-mix epic avatar of a brave new world'.

The aging rockers and poppers will definitely imitate the idea, but it will be difficult to get close to ABBA Voyage's experience, wrote NME.

It was even reported that the concert experience plan will be brought on a world tour. Speaking to NME earlier this year, Bjory Ulvaeus of ABBA discussed the future of the event.

"We hope to stay at this venue as long as we can," he said. We hope they will have us for years, and we will probably build similar replicas elsewhere: Asia, Australia, North America. There are many promoters and cities that we are currently talking to about, "explained Ulvaeus.

Regarding the potential for a place in Glastonbury, Ulvaeus argues it is not possible, but he added: "It's possible in the future."