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17 November, 2009 11:18 (GMT +00:00)

Mayor outlines £50m economic benefit of promoting the capital

City Hall Desk

The Mayor of London, Boris Johnson, today outlined why it pays to promote London at home and abroad. In his keynote speech at The Marketing Society’s annual conference he revealed how his £2million investment in the successful ‘Only in London’ tourism campaign boosted the capital's coffers by £50million. The Mayor also announced a further £400,000 investment for the campaign, which is expected to create a further return of £8million for London.

Addressing some of the capital's top marketing executives the Mayor reiterated the opportunities available in participating in his 'brand' vision for the capital over the next 20 years. He outlined that with expected cuts in public spending, London now relies even more on direct foreign investment and tourism, as well as attracting the best and brightest to come to the capital to work and study.

To attract the best talent on offer, the city needs to have an effective marketing campaign with a clear and concise message that exemplifies the image of modern, dynamic, vibrant and diverse London. Submissions to create the Mayor's 'Brand for London' are currently being fine-tuned and the Mayor confirmed that it will be unveiled in spring 2010.

The Mayor said: "London, as many surveys show, remains the top destination for overseas investors and tourists. As well as the massive choice of things to do and see, visitors will note that their travel budget buys so much more in London and the only limit to their enjoyment will be not having enough hours in the day to fit it all in.

"Now is not the time to be complacent though. We are working on a strong, recognisable and iconic identity to tie together the diverse strands that make up the London brand. Hosting the London 2012 Games will bring endless opportunities to position the capital for the next 20 years and I intend to take full advantage of them. I want visitors to our capital to not only return home telling all their friends about our wonderful capital, but also to start planning their next trip to the best city in the world."

Sally Chatterjee, Interim CEO at Visit London said:
“In tough economic times, investing in tourism is the smart thing to do. With the exchange rate strongly in favour of European visitors, it’s tourists who have been keeping our shops, restaurants, bars and attractions in business. Visit London’s “Only in London“ campaign has proved a great success in persuading people to visit our city and this new boost to our funding is very welcome.”

Peter Rogers, Chief Executive, London Development Agency said:
“We know from the success of the “Only in London” marketing campaign that many of London’s businesses and employers will get a great return on this investment, giving them a significant boost to their bottom lines at a time when many people are tightening their belts. These benefits have been felt throughout London with the added support of local authorities and business. The London Development Agency’s additional funding, provided through the Mayor's Economic Recovery Action Plan, will enable us to do even more to market the capital as the best City in the World and do so at a time that is traditionally more challenging for all those businesses that depend on tourists."

Funded by the London Development Agency and run by Visit London, the Only in London global campaign focuses on the unique and exceptional experiences, sights and attractions that make the capital such a popular destination for visitors from all over the world. It also encourages Londoners to enjoy the distinctive and rich diversity of their own city. Visit London today predicted that all of its marketing campaigns, by the end of the financial year, will have generated over £290million in economic benefit to the city.

In August, the Mayor unveiled his tourism vision for London, which sets out his key priority of ensuring the capital remains the number one choice for international travellers and that the city provides an inspirational experience for everyone in the capital during the 2012 Games. It aims to strengthen the capital's position as the world’s most popular destination for visitors through:

-       Supporting jobs in the industry by increasing trade through campaigns like ‘Only in London’
-       Delivering and promoting a world-class sense of ‘welcome’ by developing plans to recruit up to 12,000 Host City Volunteers during the 2012 Games.

-       Capitalising on the 2012 Games to ensure London maintains its position as a leading destination for international leisure and business tourism.

-       Exploiting the spotlight of the Games to grow London’s reputation as a premier global sporting, cultural and business events city by supporting bids to bring major events to London like the 2015 Rugby World Cup and the 2018 FIFA World Cup.

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