Press Cuttings Transcripts

Conference millions lost in London

Guardian, 19 June 2004

London is being eclipsed by other cities and is losing millions of pounds because it does not have a major international conference centre, according to new research.
By Hugh Muir.

The capital is failing to capitalise on the £100bn conference centre market and falling behind cities like Paris and Berlin because it cannot cater for events involving up to 20,000 delegates. Though the British conference market is worth £7.3bn a year, most of that relates to venues like the Birmingham ICC.

Visiors contributed £3bn to the London economy in 2002 yet the city ranked 11th in the European league table of meetings market share.

A document prepared by a mayoral commission established by Ken Livingstone warns that London is turning away business because the city does not have the capabilities to manage it.

It says venues such as Earls Court are often hired but do not have the flexibility necessary for dealing with the largest conferences.

Lodon’s world ranking as an international convention destination has slipped from number one in the late 1970s to 16th in 2002. The capital is also losing out to other European cities. Its share of the market has fallen from 15% in 1998 to 9.8% in 2002.

Mr Livingstone and his London Development Agency have created a commission to consider the pros and cons of building a new centre in London. A new development of the scale required would cost up to £200m.