Celtic puts plenty of green into nation’s economy, study reveals
THE Scottish economy nets more than £165million due to Celtic Football Club every year, a new report has found.
Research by economists at the Fraser of Allander Institute, at Strathclyde University, estimated what the spending of Celtic and their supporters was worth to the nation’s economy in 2016-17.
In comparison, other studies estimated golf tourism’s contribution to Scotland’s GDP is around £157m each year, while the one-off economic impact of the Commonwealth Games in 2014 to Scotland was valued at £125m.
The report, commissioned by the club, also concluded more than 2800 full-time jobs are supported as a result of the club’s contribution annually.
Celtic chief executive, Peter Lawwell, said: “We commissioned this research because of a feeling that the economic contribution from football in general and Celtic in particular is consistently under-valued.
“While a huge amount of attention is rightly paid to one-off events like the Commonwealth Games and other activities which attract interest to Scotland and Glasgow, football’s economic contribution tends to be overlooked – yet it brings people here from around the world”.
The research concluded that Celtic are the 25th strongest brand in world football, with the club’s stadium currently the seventh most visited tourist attraction in Scotland.
More than one million people travel in and out of the city as part of visiting Celtic Park for games each season.
Alongside immediate impacts to the sporting economy, benefits to Glasgow’s tourism industry, as well as the club paying all full-time staff greater than living wage, were all pointed out as positives.
The report estimates there are just over 90,000 bed nights related to matches featuring Celtic over the course of a season.
However, economists noted the limitations placed on Celtic by “being a big club in a small league”, but did praise the social contributions made by the club’s Foundation, saying it is “quite unlike” standard practise of other similar ventures at other football clubs.
Professor Graeme Roy, director at the Fraser of Allander Institute, said: “This study tracks the contribution of Celtic and the spending of their supporters on the Scottish economy.
“Our survey of supporters – including season ticket holders, international visitors and match-day spectators – was one of the largest that we have ever undertaken.”
“What is particularly interesting from our findings is the value of international spending that is attracted to Glasgow via Celtic.
“This acts as an ‘export’ for Scotland boosting jobs and supporting growth.
“This suggests there is an opportunity to use regular major events – such as Scottish football – as a lever to help support economic development.”