19th March 2013. Goodwood revival brings £12 million to the local economy
The Goodwood Revival Study was unveiled by Lord March at the press launch for the 2013 Festival of Speed and Revival Meeting. It found that the annual Goodwood Revival brings a conservative £12 million of business to the local area, including Chichester and Bognor Regis to the south of Goodwood, and Petersfield and Midhurst to the north.
In addition, the FBHVC and University of Brighton research found that the 2012 Goodwood Revival was responsible for a healthy £32 million turnover for the national UK economy, net of VAT, with over £4 million generated in VAT to Government revenue. The event also led to direct temporary employment for more than 350 people.
The independent study also revealed that the Goodwood Revival generates over 23,000 ‘person nights’ of accommodation for local hotels and guests houses, plus a further 25,000 person nights locally outside of the 20km radius study area. The full report can be downloaded here.