Retailers in London’s West End are expected make an additional £16.6million this year thanks to the Olympic Games.
A report commissioned by New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, suggests traders will also see an uplift thanks to the Queen’s Diamond Jubilee.
The predictions follow 6.8% year-on-year increase in trading among West End retailers.
Richard Dickinson, Chief Executive of the New West End Company, says, “This forecast shows that as far as the West End goes we are due to see better economic times.
“Ultimately the 2012 Olympics can help put the Great back into Britain and our latest forecasts indicate that the central London retail economy is now likely to bounce back and can make a strong contribution to these better times”