New figures have suggested that foreign music fans contributed an astonishing £3.1 billion to the UK economy in 2014

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The statistics have been put together by industry body UK Music who have said that 9.5 million visitors came from overseas last year to attend music events and the average spend was an impressive £751. The influx of visitors of course pumps more money into the British economy and helps to maintain an estimated 40,000 full time jobs.

Culture Secretary John Whittingdale said: "Festivals like Glastonbury hold an iconic status on the world music scene and are one of the reasons why international tourism is booming in the UK, drawing in streams of visitors to all parts of the country.

"We know our UK creative industries contribute an astonishing £76.9bn to the UK economy but this report confirms they are truly world-class and a powerful advert for the UK."

In addition to the statistics already stated, UK Music have also said that there has been a 39% increase in the amount of foreign music fans gracing our shores since 2010.

This is all great news for the UK as it means that the music industry is having a positive influence on the financial state of the country following years of uncertainty. As Whittingdale stated, there are a number of truly iconic festivals that take place in the UK that bring in people from all over the world and this can only serve to benefit the country.

One of the best known festivals in this country is Glastonbury and that is taking place next weekend (24-28 June).