A new study says that The O2 in North Greenwich contributes £405 million a year to London's economy.
The popular venue attracts up to 7.2 million visitors a year and contributes £126 million additional income a year to the Greenwich area.
The report, which has been carried out by consultants Why Not and was commissioned by O2 owner, AEG, also claims that the O2 has created 600 jobs in Greenwich.
Councillor Chris Roberts, Leader of Greenwich Council said: “AEG has been a great asset to Greenwich and London. Greenwich Council continue to support AEG throughout all of their operations and development, and in partnership we have delivered real tangible benefits for local residents including jobs, community initiatives, learning programmes and access to a great facility. As well as the world’s most successful arena, we also have plans for London’s first cruise liner terminal at Enderby Wharf and London’s first cable car from The O2 to Excel.”
Alex Hill, Senior Executive Director of AEG Europe said: “Through a combination of state of the art facilities, scale and quality of customer service The O2 has been able to attract a series of fantastic new events to the UK. We host the Barclays ATP World Tour Finals, the world’s best attended indoor tennis event, and have just hosted the first ever NBA regular season games to be held in Europe. Together with world class pop and rock acts from Beyonce to Led Zeppelin, and cultural institutions like Les Miserables and the Royal Ballet, The O2 continues to be a great draw for London.”