CELTIC Football Club contribute around £165million to the Scottish economy every year, a new report has found. 

Research by economists at the Fraser of Allander Institute at Strathclyde University has estimated what the spending of Celtic and their supporters was worth to the nation's economy in 2016-17. 

In comparison, other studies have estimated golf tourism’s contribution to Scotland’s GDP is around £157 million each year, while the one-off economic impact of the Commonwealth Games in 2014 to Scotland was valued at £125 million. 

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The report, which was commissioned by the club, also concluded that more than 2,800 full-time jobs are supported as a result of this annually. 

Celtic chief executive, Peter Lawwell, said: “We commissioned this research because of a feeling that the economic contribution from football in general and Celtic in particular is consistently under-valued.

“While a huge amount of attention is rightly paid to one-off events like the Commonwealth Games and other activities which attract interest to Scotland and Glasgow, football’s economic contribution tends to be overlooked – yet it brings people here from around the world”.

The research concluded that Celtic are the 25th strongest brand in world football.

However, economists noted the limitations placed on Celtic by "being a big club in a small league".

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Alongside immediate impacts to the sporting economy, benefits to Glasgow's tourism industry, as well as the club paying all full-time staff greater than living wage, were all pointed out as positives. 

Professor Graeme Roy, director at the Fraser of Allander Institute, said “This study tracks the contribution of Celtic and the spending of their supporters on the Scottish economy.

"Our survey of supporters – including season ticket holders, international visitors and match-day spectators – was one of the largest that we have ever undertaken.”

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“What is particularly interesting from our findings is the value of international spending that is attracted to Glasgow via Celtic. This acts as an ‘export’ for Scotland boosting jobs and supporting growth.

"This suggests that there is an opportunity to use regular major events – such as Scottish football – as a lever to help support economic development.”