North American brands fuel London’s “West End Powerhouse”, set to contribute $14bn (£11bn) to UK GDP by 2020
Mon 5 December 2016
New York, 6 December 2016 – New West End Company, the leading business voice for London’s West End retail heartland, confirmed that it is on track to be the first retail district in the world to generate $14 billion USD (£11 billion GBP) annual turnover by 2020, in New York today. The West End already generates $11.8bn USD (£8.8bn GBP) in annual sales from its six hectares – totaling more GVA (Gross Value Added) than the City of London and equal to the whole country of Wales. Much of this is attributed to the recent openings of prime North American flagship stores, and waiting for the imminent completion of the new Elizabeth line (Crossrail), which is expected to open at the end of 2018.