City to benefit from Wolves' European success
As Wolves FC prepare to take on Europe after a successful first season back in the Premier League, Senior Lecturer in Economics Dr Ian Jackson looks at the economic benefits for the Club, city and wider Black Country region.
“The news that Wolves will be playing in the 2019/20 Europa League is really important for the city. I think there are three main areas that we can look at in terms of the economics.
“Firstly, the direct effects of things like TV revenue and prize money that the Club will receive from being part of the competition.
“Next, there are the indirect effects for the local economy of things like fans consuming more food and travel for coach companies on the extra match days.
“And lastly, there’s the induced effects and that’s a bit more difficult to quantify. But this is about the increase in well-being in the city and, in certain circumstances, an increase in things like productivity in workplaces.
“But generally, what this gives us is the ability to project not only the football club in Wolverhampton but the wider area of the Black Country in a positive light and gives us the international reach because the Europa League is an event that is watched globally.”
- Dr Ian Jackson is Senior Lecturer in Economics and Finance at the University of Wolverhampton Business School.
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