Madrid: FC Barcelona have revealed the football club's massive contribution towards aiding the economy in its hometown, making public a study of its economic impact.
The study entitled 'The economic impact of FCB on the city of Barcelona,' was presented by club vice-president Susana Monje at the Catalan College of Economists on Tuesday, reports Xinhua.
It shows that during the 2014-15 season, FC Barcelona generated revenue of 906 million euros (around $1 billion) or 1.5 per cent of the city of Barcelona's GDP.
The report, drawn up by Deloittes, also shows that the football club helps create 16,620 jobs in the city, mainly in the service sector, as six per cent of all of the visitors to the city say the football club is the main reason they are making their trip.
Tourism generated by FC Barcelona led directly to 1.47 million overnight stays in the city, the equivalent of 59 per cent of that generated by all of the congresses and business fairs, such as the Mobile World Congress over the year.
Deloittes calculates that for every euro spent directly on expenditure on the football club, a further 2.3 euros were spent in other sectors in the city, be it accommodation, food and drink or taxi fares.
Finally the club also generated 242 million euros ($273.3 million) in tax revenue of which 81 per cent was paid directly by the club and its Foundation.