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West End expects 80 million pound boost during Jubilee Weekend

By Huw Hughes

27 May 2022

Business

Image: The West End Company

The Jubilee Weekend is expected to inject tens of millions of pounds into London’s iconic West End district, according to new research.

The four-day Bank Holiday weekend, running from June 2-5, is expected to generate 80 million pounds in sales as an estimated 2.8 million domestic and international visitors head to the shopping district during the Queen’s Platinum Jubilee.

That’s according to research from New West End Company (NWEC), which represents 600 businesses across Bond Street, Oxford Street, Regent Street, and Mayfair.

It comes after the West End was hit hard during the pandemic when stores were closed and international travel halted.

Pandemic recovery

In February, a NWEC-commissioned report by property consultancy firm Colliers predicted the West End will recover to its historic annual turnover of 10 billion pounds within the next two years.

By 2025, the shopping hub is predicted to surpass pre-pandemic levels by 14 per cent - or by a further 1.4 billion pounds.

NWEC has been calling on the government to further support the district during its recovery by helping to entice international tourists back to British shores.

The business partnership has asked for a simplified visa process, a reconsideration of the decision to abolish tax-free shopping, and an extension of Sunday trading hours.

It previously warned that The West End district is at a “significant disadvantage” compared with other international shopping destinations, such as Paris and Milan, which offer visitors preferable visa terms.

Since the abolition of tax-free shopping last year, other major world cities have benefited from a 20 percent price advantage over the UK, according to NWEC.

New West End Company
Platinum Jubilee
West End