World Travel Market London – one of the world’s influential travel and tourism events – is set to contribute around £200 million to the London economy.
Held at Excel London (pictured), more than 40,000 travel professionals are set to attend the 44th show which takes place tomorrow, running until November 7.
On track to host the most exhibitors the event has ever seen, WTM London has reported a 7% growth in exhibitor numbers this year, with more than 4,000 global tourism boards, hoteliers, transport services, technology brands, associations and experiences set to take part.
It’s estimated that in excess of £2.2 billion worth of business deals will be signed at this year’s 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.
In a recent report from Deloitte, they suggested that for every £1,000 spent, a further £1,800 is generated in direct tourism gross value, totalling an impressive £200 million injection from WTM London into the 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. 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.”
