// London’s West End expected to recover from pandemic
// The district is on track to achieve a turnover of £8.6bn within the next year
New research has predicted that London’s West End is set for a bounce back from the effects of the pandemic.
According to a new report commissioned by New West End Company, the district is on track to achieve a turnover of £8.6 billion within the next year.
The study by Colliers also predicts that the area will recover to its historic annual turnover of £10 billion within the next two years, and will surpass pre-pandemic levels by 14% by 2025.
READ MORE: West End footfall at 79% pre-pandemic levels as Plan B restrictions ease
“Nearly two years on from the start of the pandemic and the road ahead for the West End looks promising with the long-anticipated opening of the £19 billion Elizabeth Line set to turbo charge our recovery,” New West End Company chief executive, Jace Tyrrell said.
“Whilst it is heartening to see domestic customers filling our high streets with optimism once again and travel restrictions gradually disappearing, we can speed up the nation’s recovery greatly by incentivising high spending tourists to return to our shores.
“For us to succeed long-term we need to ensure that London’s West End and the wider country remains globally competitive to alternative world-cities.
“This means exploring a simplified visa process, reintroducing tax-free shopping and extending Sunday trading hours.
“We’re in good stead to build back better, but we must clear a path if we want tourists – who generate an estimated £237 billion across the UK every year and support one in eight London jobs – to flock back to our high streets.”
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