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Lack of centre costs London £27 million

Meetings and Incentive Travel, January 2005

London needs a convention centre with a hall that can seat up to 5, 000 people. The conclusion was reached by a commission working for the London Development Agency.

Lack of centre costs London £27 million

Due to a lack of world class large purpose built convention centre London annually turns away up to £27 million in conference business. That’s the conclusion of the demand study carried out by international consultants Grant Thornton prepared for the Mayoral Commission into an international convention centre for the capital.

Commission chairman Gerry Acher said: “To be turning away valuable business of this magnitude is nothing short of a disaster. And these figures do not, of course, account for the fact that many of the largest conventions do not even have London on their shopping list as there is no suitable centre in London. It is quite clear from the demand study that not only is London not getting the amount of international conferences it could expect, but that the capital’s already small market share will further decline.”