New West End Company

New West End Company
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“The protection of retail and leisure jobs is our utmost priority, and while the Government’s measures take the first step in supporting the West End’s recovery, without consumer confidence to travel and visit; this situation is highly precarious with 50,000 jobs are at risk. With no international visitors and mixed messaging surrounding the safety of returning to work and using public transport, we urgently seek clarity of Government messaging for our businesses to survive. With the UK-EU trade deal deadline also looming, we need to ensure that destinations that rely on international visitors, which have been so hard hit by the pandemic, are accounted for in longer-term recovery plans including levelling up on tax-free shopping with the EU.”
Jace Tyrrell, Chief Executive at New West End Company
“Despite the reopening of retail in England on 15th June footfall across UK high streets remains 57.2% lower than last year.  Regional cities, the largest high street locations in the UK have been even harder hit with footfall still 70.4% lower than in 2019.  And in Central London the economic hub of the UK, the picture is even worse, with footfall languishing at 76.2% lower than last year only improving by around a quarter from a low of -92.4% over the first four weeks of lock down.”
Diane Wehrle, Insights Director at Springboard
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One Month on From Retail Reopening: London's West End Faces £5 billion loss in Sales and 50,000 Job Losses Without Further Government Action

Wed, Jul 15, 2020 18:00 CET

· London’s West End welcomed 5.1 million visitors since 15 June, down 73% year on year · At a national level, footfall in central London is 19% lower than UK high streets · City centres, significantly London’s West End, are being held back by a series of restrictions, including uncertainty surrounding returning to work and the use of public transport · London’s West End at risk of £5 billion loss in sales, putting over 50,000 jobs at risk · Reforming tax-free shopping could add £1.4 billion in retail sales annually and give an overall benefit of £2.1 billion to the UK economy.

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