Festive spending in London’s West End is expected to reach £1.7bn, with international tourists set to push sales up by 3.2 per cent in the run up to Christmas.
Consumer spending is set to grow by 1.6 per cent in the period, while tourists are set to spend 5.8 per cent more than last year, according to a report by the New West End company.
Tourists are set to flock from the Gulf, China and the US, with flight bookings to London during the festive season up by 11 per cent, the report said.
“International visitors have been fundamental to the district’a recent performance, but much more is needed to unlock this demographic’s full spending potential,” Dee Corsi, head of the New West End company, said, hinting at long-held calls to scrap the tourist tax.
The weekend beginning 7 December is sent to be the biggest spending weekend in the area, with total sales set to land somewhere between £40m and £50m, the report added.
News of a festive spending bonanza in the West End come after it was announced that UK retail sales rose unexpectedly in September, suggesting households are still splashing the cash despite fears about tax rises in the Budget.