Some call football ‘the beautiful game.’ This term has been widely used worldwide to describe the entertaining aspect of the English Premier League. However, other than just fun, football serves another purpose to the citizens of the UK. The EPL contributes substantial amounts of money to the treasury through taxation and other forms of revenue collection.
The EPL is also known to create jobs for many locals, and it is also a tourist attraction feature. Many people flock to the country to witness various matches played across the country. There are over 20 football clubs based in the UK, and they all play a role in the country’s economy.
Here are the economic impacts of the premier league on the UK economy in detail:
Contributes a substantial amount to the treasury
The EPL has contributed an estimated 3.3 billion pounds over three years to the economy. That makes it one of the biggest revenue generators in the UK. Further, the Premier League contributes 7.6 billion pounds to the Gross Domestic Product per year. Therefore, the EPL has amplified the UK’s economy by a significant margin over the years. Many football enthusiasts also take to betting platforms to bet on their favorite teams. Pro gamblers have English Premier League (EPL) tips that help them bag a win every time.
Betting is also taxed in the UK, and this is also another revenue stream for the government. Therefore, if you want to place a bet, it is best to have premier league tips to win.
Creation of job opportunities
It is estimated that UK-based football clubs directly employ over 40000 people; that number grows substantially when a season kicks off. It rises to 100,000 because the league hires more people. The creation of job opportunities by the PL also means that more people can maintain their livelihood and sustain themselves. That, therefore, further boosts the economy because fewer people are jobless. However, the 2019-2020 season was heavily affected by the Covid-19 pandemic, many people lost jobs, and thus the economy took a blow.
The PL attracts Tourists
Annually, 700,000 people worldwide visit the UK to either visit a club or watch a live football match. Sports is a tourism product that facilitates a substantial contribution to the local economy and catalyzes the overall growth of the national economy. Besides just contributing money to the economy, infrastructure such as accommodation, telecommunication, and roads are improved. Furthermore, the Premier League pulls spectators from all corners of the globe to fly into the UK and watch matches. Therefore, the PL has a great potential in driving regional tourism and thus supporting local economies.
Summary
The Premier league contributes 3.3 billion pounds to the UK economy. Since it is famous at home and worldwide, it is a crucial aspect of the UK economy. The current EPL also gives back to the community by helping smaller football clubs with various expenses to help them grow their capacity. For instance, Argyle FC received funding to the tune of 1 million pounds to build their football academy and a charitable foundation. Therefore, the people of Plymouth will be able to hold more training sessions for the young athletes.
