Economic impact study
The aim of this study is to examine the economic contribution that Blenheim Palace makes to the community, the regional economy and also the national economy of the UK.
Blenheim Palace attracts visitors from around the world and is a filming location, a venue for weddings and events, as well as a producer and supplier of Natural Mineral Water. Blenheim Estate is rich in forestry and farming practices, a landowner and construction business with a portfolio of residential and commercial properties.
In 2017, Blenheim Palace announced 10 goals to deliver over the next 10 years. One of these was to triple the economic impact of Blenheim to the local area. Working with a team from the Oxford Brookes Business School, a methodology for capturing, calculating and reporting on this and other activities was developed to provide a robust, quantitative basis to measure progress towards these goals.
Now in its third year, the study considers the direct, indirect and induced impacts that Blenheim Palace has as an anchor institution within its community, including the impact of staff, visitors, and local businesses. The economic impact analysis also incorporated the contributions that Blenheim Palace makes to GDP and job creation.
Blenheim publishes an annual report based on the analysis undertaken by Oxford Brookes to demonstrate its transparency and progress against impact targets.
This work has attracted attention from a range of organisations that work in the heritage asset management field, and Oxford Brookes is working with a number of these, using the methodologies developed with Blenheim, to provide a cost-effective research and analysis service.