MD1466 World Expo 2025

1.1 The Bid Consideration phase for World Expo 2025 was approved under DD1230 and MD1399.

1.2 From June to December 2014 the project explored the feasibility of London bidding for and hosting a World Expo in 2025. Areas of focus included: site, economic impact, cost and revenues, business engagement and other factors key to assessing whether it would be worthwhile for London to bid.

1.3 The final Bid Consideration report concluded that there was a compelling argument to continue to explore the feasibility of London bidding for a World Expo which was endorsed by the project Steering Group and IPB (18th December). It offered the following specific conclusions:

• the business community is supportive of a UK bid for World Expo London 2025;

• there were four potential sites in areas where the Expo could provide new infrastructure, development, employment and a legacy beyond what could ordinarily be delivered;

• the UK’s creativity could be showcased, and exports could be boosted through our Expo theme;

• an Expo would attract millions of visitors. Whilst London has huge destination appeal for business and leisure tourists it is vital for the growth of tourism that we sustain our reputation as one of the most exciting cities in the world;

• there are estimated to be broad economic benefits to the UK – direct (building the Expo site and infrastructure), indirect (supply chain), increased trade and investment as a direct result of the Expo and the unmeasurable boost to London and the UK’s reputation;

• the event would take place over 6 months and is projected to make a modest operating profit, with the main revenue sources being ticket sales and sponsorship;

• in time the Expo project would need revenue funding for a bid and significant revenue and capital investment if London hosted the event;

• the bid will need a recognisable figurehead, strong and sustained commitment across the political spectrum and support from the public and media to be successful.

1.4 An update was provided at IPB on the 14th April 2015. This narrowed the potential sites being looked at to just one, and IPB approved the undertaking of detailed work to assess the potential of that site to host Expo 2025 including a next-level assessment of costs and legacy potential. Expenditure for the second phase is estimated at up to £150k.

1.5 Officers will ensure that the services required are procured in accordance with the GLA’s Contracts and Funding Code, and, as per IPB request, the Executive Director Housing and Land will be consulted on the briefs prepared for consultants.

2.1 The second phase of the feasibility study will focus on;

• carrying out further technical work and assessment of costs and legacy potential for the shortlisted site.

Some work will also take place on:

• Developing an Expo theme to appeal to UK businesses, potential visitors, exhibiting countries and sponsors

• Continuing business and HM government engagement ahead of a central government decision to bid in autumn 2015

• Developing funding and governance options for the project

2.2 On completion of this second phase of work, a recommendation will be presented to Central Government, who in order to meet the bid timetable, would need to make a decision in autumn 2015.

3.1 The continuation of this project will ensure that Equality impacts are considered at all stages of the development, including how positive impact can be maximised.

4.1 This project can be linked to the following five objectives of the Mayor’s Economic Development strategy;

• To promote London as the world capital of business, the world's top international visitor destination and the world's leading international centre of learning and creativity.

• To ensure that London has the most competitive business environment in the world.

• To make London one of the world's leading low carbon capitals by 2025 and a global leader in carbon finance.

• To give all Londoners the opportunity to take part in London's economic success, access sustainable employment and progress in their careers.

• To attract the investment in infrastructure and regeneration which London needs, and to maximise the benefits from this investment and in particular from the opportunity created by the

2012 Olympic and Paralympic Games and their legacy.

4.2 Project Risks

5.1 The estimated cost of conducting the second feasibility study phase for London Expo 2025 is up to £150,000 and will be funded from the budget allocated in 2015-16.

6.1 The foregoing sections of this report indicate that the decisions requested of the Mayor fall within the GLA’s statutory powers to do such things considered to further or which are facilitative of, conducive or incidental to the exercise of its principal purposes and duty to promote tourism to in and through Greater London and in formulating the proposals in respect of which a decision is sought officers have complied with the Authority’s related statutory duties to:

6.1.1 pay due regard to the principle that there should be equality of opportunity for all people;

6.1.2 consider how the proposals will promote the improvement of health of persons, health

inequalities between persons and to contribute towards the achievement of sustainable development in the United Kingdom; and

6.1.3 consult with appropriate bodies.

6.2 Any services and any supplies required to enable the undertaking the proposed second phase feasibility study must be procured by Transport for London Procurement who will determine the detail of the procurement strategy to be adopted in accordance with the GLA’s Contracts and Funding Code.

6.3 Officers must ensure that appropriate contract documentation is put in place and executed by the successful bidder(s) and the GLA before the commencement of any services and/or supplies.