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26/09/2017

Heritage’s role in economy revealed

Words: Huw Morris
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England’s heritage directly contributes nearly £12 billion to the national economy.

According to latest figures from Historic England, heritage contributes £11.9 billion in gross value added, equivalent to 2 per cent of the national figure.

Around 278,00 people are employed in the sector, while heritage tourism generates £16.4 billion in spending by domestic and international visitors.

Repair and maintenance of historic buildings directly generated £9.6 billion in construction sector output.

Investing in historic places also generates returns for the area with on average £1 of public sector expenditure on heritage-led regeneration generating £1.60 in additional economic activity over a 10-year period.

One in five visitors will spend more in an area after investment in historic buildings.

Image credit | iStock

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