Odyssey Arena pulls in £27m for local economy

Best known for its sell out live performances and as the home of local ice hockey stars, the Harp Lager Belfast Giants, an impact assessment has revealed that the Odyssey Arena has pulled in £27m for the local economy.

The entertaining attractions, from Westlife and Oasis to Riverdance and sport, at the Odyssey Arena are being celebrated for their contribution to the Northern Ireland economy.

The assessment on the local economy by DTZ Pieda Consulting found that since the Arena’s opening in December 2000 to July 2002, the venue’s one million visitors have spent £27 million in Northern Ireland. Allowing for money that would have been spent locally anyway it is estimated this still represents additional expenditure in excess of £14 million.

Directly creating 67 full-time jobs and 696 part-time jobs, this equates to 141 full-time jobs in economic terms and additionally, the Arena’s existence is credited as stimulating a further 62 jobs in the local economy.

The report noted that the local tourism industry had particularly benefited from the Arena’s success. From its opening night to July 2002, 193 performances have led to an estimated 6,000 bed nights in local hotels, based on performers and production support alone. With an average of nearly 10% of visitors at an event coming from outside Northern Ireland, there are clearly broader benefits for the city as a whole.

Nicky Dunn, Executive Director of Odyssey Arena said: “We’re clearly delighted that the Arena has not only brought pleasure and entertainment to so many people but has made a real contribution to Northern Ireland’s economic growth.

“Only a quarter of our typical audience comes from Belfast itself, with the rest of Northern Ireland and visitors from further afield making up the majority of visitors. Although we may be based in the city, we’re proud to be a venue which the whole community is enjoying and benefiting from.”

The research showed that there are events, all of which have played a significant role in the social and community life of the city, which would not have come to Belfast without the Arena’s existence.

In particular, the report points to the emergence of professional ice hockey and the increasing number of major international artistes including Belfast in their tours.

Forthcoming events at Odyssey Arena include staging the BBC Northern Ireland’s Children in Need event, concerts by Elton John, David Gray, Blue and Westlife and sporting events such as Supercross, Sekonda Superleague fixtures and the Continental Cup.

(SP)