Business travellers confident in London economy

George Sell George Sell Uploaded 20 November 2019

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UK: A survey of business travellers in London by Cheval Collection has reported strong confidence in the capital for 2020.

The survey found that with 61 per cent of respondents were "confident" or "very confident", 30 per cent "somewhat confident", and only nine per cent "not confident".

Against a backdrop of political and economic uncertainty for the country as a whole, the survey of more than 1,000 business travellers by serviced apartment company Cheval Collection found that sentiment for those working in the hospitality sector was broadly in line with the average, with only eight per cent of respondents not confident about the future. However this rose to 13 per cent amongst healthcare professionals. The most assured sector according to the survey was banking and finance, with almost 99 per cent expressing confidence in the future.

When broken down by age, those over the age of 45 (67 per cent of respondents) are on the whole much less confident, with only 41 per cent confident or very confident. For those 45 or younger, the level of confidence doubles to 82 per cent.

The survey, which includes 30 per cent of international business visitors from North America, the UAE, Australia, Germany, Switzerland, Norway, Italy and Hong Kong, found:
• Six out of ten expressed a strong level of confidence in the business climate in London in 2020
• 86 per cent expect to do the same or more business in the capital next year
• 92 per cent expect to visit London the same amount or more times in 2020 for business
• Nationalities from the Arabian Gulf States were the most confident, with 75 per cent expressing a high level of confidence

George Westwell, CEO of Cheval Collection, said: “I’m delighted to see that the majority of survey respondents expressed confidence in the London market in 2020. This reflects Cheval’s own expectations of future growth as we build our profile in developing markets like China and India, whilst maintaining our strong connections with clients from Europe, North America and the Middle East. The introduction of Cheval’s newest brand, Cheval Maison, is designed to cater to the ever-evolving tastes and demands of our customers, and surveys like these help us to shape our offering in a targeted and evidence-driven way.”

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