London’s convention bureau has reported a 41 per cent increase in event enquiries since the UK’s decision to leave the EU.
The increase spans international markets with a 22 per cent rise in interest from the US, Europe, Middle East and Asia and domestic enquiries increasing by 83 per cent since the June vote.
The Maybourne Hotel Group, the InterContinental London at the O2 and Spectra DMC have confirmed the upturn, with customers requesting to pay for events upfront since the pound has depreciated.
Managing director at Spectra DMC Paul Miller said:
“The fact that London is now better value for money has definitely had an impact on Spectra’s activity this summer. Following the result of the referendum we received an unprecedented surge of new enquiries, both from outside and inside the EU, for sizeable conferences and meetings for later this year and early 2017. Thanks to the exchange rate going down, clients have also been willing to pay more substantial deposits.”
New venues opening this year in London include Switch House at the Tate Modern; the new Design Museum in Kensington; and the first Smith & Wollensky restaurant outside of the US, to open in London’s West End.