The Beatles' annual contribution to Liverpool economy valued at $118 mln

The Beatles' annual contribution to Liverpool economy valued at $118 mln

PanARMENIAN.Net - A new report has found that tourist income generated by The Beatles adds almost £82 million ($ 118 million) to the economy of their home city of Liverpool, NME said.

The band formed in Liverpool in 1960, with the group instrumental in the local Mersey Beat scene during their early career.

Their native Liverpool has long been a destination of pilgrimage for many Beatles fans and now The Telegraph reports that such interest contributes £81.9 million to the Liverpool economy each year and supports 2,335 jobs.

A report - produced by Liverpool John Moores University and the University of Liverpool, and commissioned by Liverpool City Council - finds that The Beatles economy in Liverpool grows 15 per cent each year with "further significant growth potential" in the future.

Professor Simeon Yates of the Institute of Cultural Capital at University of Liverpool told the Press Association: "This report clearly indicates the importance of The Beatles as a cultural and economic resource to the city of Liverpool...However, underpinning the economic impact and the cultural value of The Beatles heritage is a positive experience for fans, visitors and citizens, and the city needs to maintain standards in its efforts to promote this legacy."

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