| | Retail Week reports that spend in London’s West End is expected to surge 25% to £12.5bn by 2020, driven by Asian and US tourists shopping in the area.
The report, compiled by the New West End Company and Heart of London Business Alliance, found that tourists will continue to be attracted by the weakening pound and that the easing of the Eurozone crisis should encourage more EU visitors to the UK.
The report covers restaurants, galleries and theatres as well as retail on Bond Street, Oxford Street, Regent Street, Leicester Square, Piccadilly and St James’s. The area contributes 20% of the capital’s GDP. |