The Uttoxeter racecourse announced that one of their biggest events the Midlands Grand National will be held behind closed doors last week, a major blow to the region’s finances.
The event draws in thousands of people from all over the country and it’s therefore also a very important date for local businesses in the Staffordshire area,
But without any visitors, the local economy is set to lose out on a lot of revenue.
Richard Swancott, social media executive at Enjoy Staffordshire, explained: “About 16,000 fans come to the event every year and it generates about £1m for the local economy”
“About half is tickets sales, so you’re looking at about £500,000 spent with local businesses every year.”
With the businesses closed down for almost an entire year now, it’s also becoming more clear what total damage has come for local businesses,
Swancott said: “Visit England have done some research which suggests that nationally there’s been a 62% hit on spending in domestic tourism”
“So if that was repeated in Staffordshire, and there’s no reason to think otherwise, that would mean a hit of almost 1.2 billion pounds” he concluded
Most businesses have been able to keep their heads above the water due to government funding but the Midlands Grand National could have provided a much needed boost,
However, until the lockdown restrictions ease businesses will have to stay patient and keep their doors closed.