Future of London Business Travel Post-Brexit

Digital working has not completely replaced the need to travel to London for meetings, conferences and research expeditions.

The English capital city is home to the headquarters of some of the world’s best respected business names. This – and its vibrant technology and financial sectors – means London continues to attract many business travellers.

That’s on top of the 85 million people who come to London each year to attend its various specialist events. This includes game changing business conferences and trade shows at Olympia, ExCeL, the Business Design Centre and the Queen Elizabeth II Centre.

(Source: https://www.eventbrite.co.uk/blog/uk-event-industry-in-numbers-ds00/)

Will this remain true post- Brexit?

London business tourism still substantial

A great deal of uncertainty surrounds Britain’s exit from the European Union. This includes how it will affect overseas visitor levels.  The biggest gauge for predicting this, is the patterns that have emerged since the Brexit vote.

Interestingly, figures from the UK Office for National Statistics (ONS) shows that there were a record number of overseas visitors in 2017. Proving that the Brexit issue has not reduced tourism in general.

Britain recorded an astounding 39.2 million visits by overseas residents in that 12-month period.

However, the number of business travellers in 2017 did dip, compared to the previous year.  It still left an impressive total of 8.8 million business trips to the UK though!

(source: https://buyingbusinesstravel.com/news/2629115-uk-business-trips-fell-2017)

It’s important to keep in mind that the fall in number of business travellers to the UK (and particularly London) has complex causes unrelated to Brexit. 

As mentioned earlier, technology has enabled companies to conduct virtual meetings, conferences and even trade shows online.

Also, Worldwide, organisations of all sizes have been clamping down on unnecessary trips, to control escalating company expenses in a tough economic climate.

Cost effective London business travel

The economic hardships of recent times have made “business tourists” – and their employers – a lot more cost conscious.

One of the best ways to keep business travel expenses down is to book into serviced accommodation, especially if you have multiple staff attending the meeting or event.

They can enjoy home comforts, in a smart, contemporary property, at prices that compare favourably with hotels.

The freedom to cook for themselves in well equipped kitchens also manages costs; and is preferable to many business people.

Service accommodation in London also helps when companies operate a pre-trip expenses approval process.  Contracts can be agreed with Merino Hospitality for regular or lengthy business accommodation in London.

Contact the helpful team at Merino for more help, and details of the best London serviced accommodation for business people.

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