Key information
Publication type: General
Publication date:
Contents
The overview
- Greek debt talks continue amidst fears of debt default
- Global growth prospects remain mixed
- Further government spending cuts expected but London’s business performance is holding up
Economic indicators
- Annual house price infl ation in the UK was 8.5% in Q1 2015, down from 10.0% in Q4 2014.
- The Purchasing Managers’ Index (PMI) of business activity recorded 57.0 in May 2015, down from 60.2 in April 2015.
- May 2015 saw an increase in new orders for London firms
LET supplement: The value of cultural tourism to London
- In 2013, London received 16.8 million international visitors, 12.3 million overnight visits from GB residents and 261.7 million tourism day visits.
- Culture is a key reason for visitors to come to London and GLA Economics has derived an estimate of the economic impact attributable to cultural tourism; using a definition consistent with the Mayor’s Cultural Tourism Vision for London 2015 – 2017.
- The analysis estimates that cultural tourism contributed £3.2 billion of Gross Value Added to London in 2013 and supported 80,000 jobs in the capital.
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