News A Lottery Win is for Life
How the 3,000 National Lottery Millionaires Save, Spend and Share
The National Lottery is today releasing a study revealing the economic impact of its millionaire winners. It is released to celebrate reaching the landmark of 3,000 National Lottery millionaires in the UK since launch in 1994.
The study reveals that the winners have made a further 3,780 millionaires among children, family and friends. They have bought 7,958 homes, 17,190 new cars and 300 caravans. Winners have started or supported 900 UK businesses employing 3,195 people. It also discovered that 98% of winners’ spending remained in the UK.
The research discovered that the 3,000’s favourite car is an Audi, their favourite holiday destination is the USA and almost a third have a hot tub at home. Most, 59%, gave up work after their win, just 19% carried on working, subsequently 31% have given their time to do unpaid voluntary work.
The research into millionaire’s spending habits has been analysed by Oxford Economics to reveal how winners have spent their windfall, the effect on their friends and family and the economic impact that the winners have had on the UK economy.
The report discovered that the 3,000 National Lottery millionaires have, via their spending in the UK on property, cars, caravans, and travel and tourism, supported over 15,000 job years – effectively each winner keeps six people in a full time job for a year. This spending has contributed almost £750 million to UK GDP and generated over £500 million in tax receipts for the UK Exchequer.
Andy Logan, co-analyst and author of the report from Oxford Economics, said, “The effect of a win spreads much further and wider than we anticipated. Not only does it transform the lives of friends and family, but each win has a measureable effect on the UK economy, especially with so much of it being spent in the UK. The use of each win creates a ripple effect across this generation and very often the next.”
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Notes to Editors:
- Camelot UK Lotteries Limited is the licensed operator of The National Lottery and is committed to raising money for the Good Causes designated by Parliament. Camelot is not responsible for distributing or awarding these funds
- Each week, over £30 million is raised for National Lottery Good Causes with more than 380,000 individual awards made across the UK to date – benefiting both large and small projects spanning arts, sports, heritage, charities, health, education and the environment. The National Lottery has given away over £43 billion in prizes and created more than 3,000 millionaires or multi-millionaires since launch in 1994
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