London & Partners has announced capital’s official visitor statistics for 2012, and the International Passenger Survey (IPS) reveals an increase in both visitor numbers and visitor spend during the year.
Visitor numbers increased year on year to 15.46 million visitors which is a healthy rise of 1.1 percent in comparison to 2011. The rise of around 150,000 more visitors over the twelve months is the equivalent of filling two Wembley stadiums.
The increase of 1.1 percent is seen as "exceptionally positive" in light of the current economic downturn in many European markets – two-thirds of London’s visitors audience comes from Europe. The much anticipated displacement effect, which many other Olympic host cities have experienced during Olympic years, appears to have been mitigated.
2012 also saw London expenditure rise to £10.08 billion which is an increase of 7.0%. This very robust boost in tourism receipts for 2012, almost two-thirds of a billion pound increase, can be linked to the strong Q3 period which includes the popular summer holiday period, but also the Olympic and Paralympic Games. Figures indicate that international visitors took advantage of the spectacle and atmosphere of the Games.
Another significant highlight of the figures also shows the Post Olympics period of Q4 (September – December), which saw very strong growth in visits with an increase of over 8 percent. This indicates no evidence of any sustained post-Olympics hangover that other host-cities have experienced in the past. Particularly positive results are indicated from the emerging and developing economies including the BRIC countries of Brazil, Russia, India, and China which saw a significant post-game boost in Q4, whereby visits rose around 18 percent.
This year will see events like the reopening of the Olympic Park, the anniversary of the Queen’s Coronation (including music concerts) and athletics events this summer.