Tourists Boost Retail Spending In London

Tourists and overseas visitors seem to be on the increase according to recent figures from the London Retail Consortium, having positive impact on retail sales. Sales in Central London increased by 4.6 per cent on a like-for-like basis compared with May 2003, when sales were still affected by the impact of terrorist threats and the SARS virus.

The three-month like-for-like growth trend increased to 5.4 per cent in May from 5.1 per cent in April. Promotions and summer weather boosted footfall, and with the decline in US visitor numbers seeming to have halted, there was a sales recovery apparent at the top end of the market. David Southwell, LRC director of communication, said: "London's retailers will be pleased that once again retail sales in the capital continue to outperform the rest of the UK. However, the figures are flattered by comparison to poor sales last year.

"The good weather helped bring out the shoppers - especially in the clothing sector - but consumers remain cautious with sales being driven by value and promotion. The upturn in tourist spending is welcome but concerns remain over the potential impact strength of the weakness of the dollar and the cost air travel."