Press Cuttings Transcripts
CAPITAL ‘LACKS VENUE TO HOST BIG EVENTS’
Financial Times, 21st October 2005
By Matthew Garrahan
The London economy could benefit by as much as £400m a year if the capital had a purpose-built convention centre in the heart of the city capable of hosting international conferences and events, according to a report.
An independent commission, set up by Ken Livingstone, London’s mayor, said the city was lagging behind its international rivals in the lucrative market for events and conferences. Paris attracts four times as many international conferences as London. In the 1970s, London was the most popular city for such events but has since dropped to 19th place.
Gerry Acher, chairman of the Mayoral Commission, said: 2There are more than a thousand European business conventions that have not been to London in the last 20 years. If we are to get the full benefit from business tourists then we believe the convention centre should be located in the central tourist area of London.”
Visit London, the tourism body, estimates the business travel market is worth £3.2bn a year to London, which Mr Acher said could rise if the city had a dedicated convention facility.
The commission is to look at possible locations, which could include land around King’s Cross station, the west end of Oxford Street and the south end of Tottenham court road. The venue would need to have a main auditorium with a capacity of 3,000-5,000, which London lacks.
But the recommendation for a new central London facility comes as business is thriving at London’s existing conference and exhibition venues, such as the ExCel centre in the east of the city.
ExCel recently won the Motor Show from the Birmingham NEC, with the event returning to London after a 30-year absence. “It is perfectly understandable to decide that further facilities might be required elsewhere in London,” said Jamie Buchan, chief executive of ExCel London. “I’m very supportive of attempts to gain more market share.
“But at the same time it’s important to support a venue like ExCel London which already generates millions of pounds for London in its market and has considerable potential and space to be developed further.”
Mr Acher said there was room for more than one convention centre. “We need ExCel to continue to be successful. Other capital cities have a number of convention centres, not just one. We’re talking about a purpose built facility in the centre of the city that can truly maximise the number of business tourists visiting London.”