Tourism has a huge impact on the London and national economies.
London currently attracts around 19 million visitors per year, and is projected to attract over 40 million by 2025.
A snapshot of the tourism sector
it creates 700,000 jobs in the capital and around £36 billion a year.
London acts as a gateway to destinations around the whole of the UK, drawing in tourists who contribute £127 billion in gross value added (GVA) to the national economy
tourism is 2.5 times bigger than the automotive industry, a bigger exporter than the insurance sector and is growing faster than the digital sector.
is also often the first step on the path to foreign investment and trade with other economies.
But we are going to be challenged over the coming years as the focus of the global economy continues to shift eastwards.
Retail and hospitality are key to London’s draw as a tourism hotspot, both as a significant driver of jobs and growth and as a key draw for tourist spend, and the sectors must be agile to navigate rapid changes.
Our Retail Group regularly brings together members with policymakers to influence the issues of the day, while our ongoing work focuses on a number of key policies which will help London’s retail sector stand strong against a changing tide.
Our annual London Summer Business Lunch brings together the capital’s most influential people across government and business. We look forward to hearing key remarks from George Osborne, Editor of the Evening Standard, Chair of the Northern Powerhouse Partnership and former Chancellor of the Exchequer, on what’s next for our capital city.