The cross-party parliamentary group London as a Global City released its report calling on all decision-makers to act to support the capital’s arts, business and consumer events.
The report, entitled “Global London: Enhancing the Role of Business and Consumer Events for London and the United Kingdom”, states that London’s business and consumer events and the arts are key to the country’s success:
From trade fairs to Taylor Swift, the events and music venue sectors are vital to job creation and economic growth across the capital. This in turn increases UK revenues through increased tax revenue and visitor numbers – with London being the gateway to the UK.
However, the cross-party parliamentary group London as a Global City has found that despite London’s international success – such as being the most Googled city in the world – there are new challenges that need to be addressed to ensure that London goes beyond just its status retains their number one status, but can grow and contribute to the upgrading of the country as a whole.
The APPG expressed concern that London’s position as a leading location for international exhibitions had been affected by Brexit. In 2015, London was the fifth most attractive city for conferences and events. In 2022, London slipped to 15th… This is a significant fall in the rankings that needs to be addressed through proactive initiatives to support this industry.
The APPG put forward a number of recommendations to ensure London remains the global center for exhibitions and art, including:
• Removing visa hurdles for tourists and business people.
• Ensuring funding for the arts
• Make the transient movement of goods a seamless environment for contractors serving business and consumer events and the arts.
• Eliminate regulatory ambiguity regarding VAT for foreign exhibitors and contractors.
Karim Fatehi MBE, interim chief executive of the London Chamber of Commerce and Industry, said: “This is a crucial report to ensure London remains the world’s leading economic hub. “We cannot be complacent about the status of our city. This All-Party Group report on London as a global city must be implemented to ensure jobs and business growth can be maintained in the capital.”
Jeremy Rees, CEO of ExCeL London, added: “Organizers have a huge choice available to them when choosing their venues. We must actively and deliberately expand London’s presence to ensure we remain the most attractive city in the competition for a share of the £1 trillion global business events industry.
“Our recent £220 million investment to expand our convention center is testament to our commitment to hosting world-class events in what we believe is the best city in the world.”
By Mark Adair – Correspondent, Bdaily
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