The number of people visiting London for business reasons will continue to rise in 2014, following impressive growth over the past five years, one expert has claimed.
VisitBritain’s director of strategy and communications, Patricia Yates, said that corporate visits rose by 20 per cent in the three years leading up to 2012 and that confidence in this part of the tourism sector remains high.
Ms Yates’ comments come after Cheval Residences released the results of its latest industry survey. After questioning 200 firms that regularly travel to the capital, the serviced apartment provider found that 10 per cent expect to boost their activity in the city by as much as 40 per cent in 2014.
According to thecourier.co.uk, a further 10 per cent said they expect an increase of 20 per cent, while, on the whole, 35 per cent said they’re likely to do more business this year than in 2013.
Cheval Residences director George Westwell said the news looks good for the capital’s financial situation. He was quoted by standard.co.uk as saying: “The confidence of business organisations visiting London augurs well for continued economic expansion in the capital.”
The report also highlighted just how valuable business travellers are to the UK economy. In 2012, this market alone generated £2.7 billion, with 3.1 million people visiting London from overseas.