World Travel Market London (WTM London) – which kicks off tomorrow – is set to generate around £200m to London’s economy over the course of this week, according to new research.
The 44th edition of WTM London kicks off tomorrow, at London’s ExCel Arena, and runs until close of business on Thursday (November 5-7) and is on track to host the most exhibitors the show has ever seen, in a record year.
WTM London has reported a 7% growth in exhibitor numbers this year, with over 4,000 global tourism boards, hoteliers, transport services, technology brands, associations and experiences set to will take to the halls of ExCel London for three days of business. It’s estimated that in excess of £2.2 billion worth of business deals will be signed this year at the event.
According to VisitBritain data, international delegates visiting the UK for a trade show on average spend £352 per day, which estimates a total visitor spend of £71,215,218.
Furthermore, a recent report from Deloitte suggested that for every £1,000 spent, a further £1,800 is generated in direct tourism gross value, totalling an impressive £200m injection from WTM London into the local economy.
WTM London estimates that 82% of attendees are international visitors who are spending money on transport, accommodation, and entertainment during their time in the city. It said 40% of visitors are spending three days in London for the event, 33% are spending at least seven days in city and 9% of international visitors are staying in the capital for at least nine days.
Juliette Losardo, Exhibitor Director, WTM London, said: “While the travel trade are busy curating that £2.2billion worth of travel and tourism deals during World Travel Market, we’re proud that WTM also has such a significant impact on our host city of London. The range of accommodation, world-class dining and wealth of attractions the city has to offer, are a real draw for our attendees, many of whom use WTM London as an opportunity to tag on leisure days and, in doing so, boost spend for the economy.”
