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World Travel Market boosts London economy by £160 million

World Travel Market boosts London economy by £160 million

World Travel Market 2013 is set to boost the London economy by more than £160 million.

The event - which will be hosted by ExCeL, London - will attract around 50,000 of the global travel and tourism industry’s most senior executives, who come to London every year to profile the hottest travel destinations.

Business deals worth more than £2 billion will be triggered by the event, while more than £160 million will be pumped into the economy through money spent on hotels, restaurants, flights and other discretionary spend by those visiting the capital.

To put this figure in context, The British Fashion Council’s London Fashion Week – which took place September 13th-17th 2013 – was estimated to generate only £100 million for the London economy.

World Travel Market will showcase more than 180 countries and regions through its more than 5,000 exhibitors. 

The deals agreed at WTM will be the product content in travel companies’ brochures and on their websites, which will ultimately decide where holidaymakers visit in 2014 and beyond.

Reed Travel Exhibitions, director, World Travel Market, Simon Press said: “World Travel Market plays a vital role for both the global travel and tourism industry facilitating more than £2 billion in industry deals.

“Furthermore, the event has a massive impact on the London economy with 50,000 senior executives staying in the capital and spending money on hotels and evening entertainment, totalling more than £160 million.”

World Travel Market attracts many celebrities as destinations use their famous ambassadors to gain a competitive advantage.

Celebs attending WTM 2013 include Bollywood superstar Anil Kapoor (Visit Tampa Bay).

Kapoor also stared in Hollywood blockbusters Slumdog Millionaire and Mission: Impossible - Ghost Protocol.

Anil is joined by cricketing legends Viv Richards (Antigua) and Brian Lara (Trinidad & Tobago). Former Manchester United forward Dwight Yorke and actor Rudolph Walker (Patrick Trueman in Eastenders) are also guests of Trinidad & Tobago.