The iconic region is expected to make a speedy recovery from the pandemic as consumers are returning to the luxury shopping hub.
Global property consultancy firm Colliers has revealed that the upmarket district in Central London, which prior to 2020 was one of the most popular hotspots in the world for tourists looking to spend money, is on track to achieve £8.6bn in the next 12 month.
A new report, commissioned by New West End Company (NWEC) has predicted that the district will recover to its historic annual turnover of £10bn within the next two years. Looking to the future to 2025, the shopping hub is predicted to surpass pre-pandemic levels by 14 per cent, or by more than £1.4bn.
“Nearly two years on from the start of the pandemic and the road ahead for the West End looks promising with the long-anticipated opening of the 19 billion pound Elizabeth Line set to turbocharge our recovery,” said NWEC Chief Executive Jace Tyrrell in a statement.
