Key information
Request reference number: MGLA030123-6526
Date of response:
Summary of request
Your request
Is there a breakdown for analysis, on where the money goes from the ticket sales on New Year's Eve every year?
Our response
The London New Year’s Eve Firework display brings in huge numbers of domestic and international tourists into London every year.
The fireworks also provide a great opportunity to show our capital at its best on the global stage, profiling our tourist attractions and celebrating what makes London the greatest city in the world.
This year it was also especially important that London paid tribute to the Her Late Majesty Queen Elizabeth II.
Whilst final costs are still being reconciled, the budget for the London New Year’s Eve Fireworks event was £3m, with a further £1.3m spent that is recouped through ticket sales. This covers the costs of the display as well as security, stewarding infrastructure and other operational delivery. The last available market research for the New Year’s Eve event showed a direct and immediate economic impact of approximately £16m on the night – a return on investment of more than £5 for every £1 spent on the event.
Our budget breakdown does not fully itemise the split between management of the ticketing system and wider operational delivery of the event. There is no profit or excess from this income, so all money from the ticket sales goes towards the management and delivery of the event.
If you have any further questions relating to this matter, please contact us, quoting reference MGLA030123-6526.