ABBA Voyage has transformed London's cultural landscape, claims Sound Diplomacy, which has presented findings on the economic impact of this unique virtual concert experience.
Sound Diplomacy's economic assessment found that since its launch in May 2022, ABBA Voyage has generated £1.4 billion in turnover and contributed £775 million in gross value added to the UK economy. The ABBA Arena has become a major attraction for international visitors. Over the past two years, the show has sold nearly three million tickets, with international visitors accounting for 31% of the total. The local economy benefited significantly from the virtual concert, with each visitor spending an estimated average of £115, including hotels, food and transport. Of the international visitors, 90% travelled specifically to see ABBA Voyage, incorporating the concert into extended holidays in the UK.
The show has also been a significant job creator, supporting more than 5,000 jobs across London, including direct jobs at the arena and jobs generated by visitor spending in sectors such as hospitality and transport.
ABBA Voyage's purpose-built 3,000-seat arena is designed to be portable and can be relocated after the London residency.
According to Sound Diplomacy, ABBA Voyage demonstrates how innovative cultural projects can have a lasting economic and social impact. As the global music, culture and creative industries consultants point out, ABBA Voyage had an initial investment of £140 million and its huge success is already reshaping how music and culture drive economic growth. The project combines music and technology in a unique way, contributing significantly to tourism development and community enrichment.
The ABBA Voyage experience combines cutting-edge motion capture technology with pre-recorded performances by the band as digital avatars known as "ABBAtars". Backed by a 10-piece live band, the production is a ground-breaking fusion of technology and live performance.
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Photo credit: The wub
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