Celebrations in Trafalgar Square

Questions to the Mayor of London – answered at on 23 May 2022.

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Photo of Marina Ahmad Marina Ahmad Labour

Now that celebrations have returned to Trafalgar Square, what has been the economic impact of their absence?

Photo of Sadiq Khan Sadiq Khan Mayor of London

I am delighted that we are seeing a return of our vibrant events programme – not only are they a fantastic way to bring Londoners together, but they also stimulate London’s economy and showcase London on an international stage. In 2021, a report by professional services firm Hatch and promotion agency London & Partners revealed that major events contribute over £600m, on average, to the capital’s economy every year and can be a huge catalyst towards London’s recovery from the pandemic. The report estimated that every visitor to a concert and cultural event generated on average £23 to the London economy.

Based on this figure, the absence of events on Trafalgar Square alone over the last 2 years, as a result of the coronavirus pandemic, amounts to a loss of over £12m to the local economy