Tourists slump means a tougher Christmas for West End shop sales

The shortfall in sales is partly due to a slump in the number of foreign tourists in the capital, at around 10 per cent below figures from 2017
Georgie Gillard

West End stores were today warned of a tough “Brexit Christmas” with far fewer high-spending tourists than last year.

Total sales over the eight-week festive run-in are forecast to reach about £2.5 billion, down from the record £2.6 billion predicted at the same point last year, according to business group New West End Company.

The shortfall is partly due to a slump in the number of foreign tourists in the capital, with visits running at around 10 per cent below figures for 2017.

They were boosted last year by the post-­referendum slump in the value of the pound that made London a far cheaper destination.

Projections based on flight bookings suggest that even high-spending ­Chinese visitors will be in London in smaller numbers this December. Tourism bosses said London tourism had been hit by security worries following last year’s string of terrorist attacks.

The delay in the opening of the Elizabeth line — originally scheduled for December — has also cast a pall over planning for this year’s Christmas celebrations at the end of a miserable year for the High Street.

West End business leaders said the forecasts showed they were being “realistic” about prospects for spending in the busiest weeks of the retail year, but said that bargain hunters will benefit in a “shopper’s market” that will see many retailers slashing prices.

The New West End Company, which represents 600 traders and property companies in and around Oxford Street, Regent Street and Bond Street, said that even in a bleaker year around 25 million people will visit and shop in the area.

In a statement it said: “Retailers are hopeful for a positive end to what has been a difficult year’s trading. With high business costs and low consumer confidence, New West End Company’s latest insights suggest 2018 sales will not be as strong as last year, which saw the pound fall after the European Union referendum, boosting domestic and international spending.

“Despite this, retailers are making the most of the festive period and the West End is already looking towards 2019 where the arrival of Crossrail and public realm enhancements are anticipated to increase annual turnover in the area to £12 billion by 2020.”

The Christmas shopping “season” kicks off next Tuesday with the traditional switch-on of the Oxford Street lights . However, this year the usual glitzy ceremony fronted by an A-list celebrity has been ditched in favour of a series of “in-store” gigs featuring emerging artists such as Novelist, Kara Marni, Ray BLK and Isaac Waddington.

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