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London set to lose corporate events in busy 2012 summer

Recent research has indicated that London may lose some of its lucrative corporate events business next summer, as events managers avoid the capital in what will undoubtedly be a busy period. With both the Olympic Games and the Queen’s Diamond Jubilee, London is set to be overrun with British as well as foreign tourists.

In research carried out by the corporate venue, Center Parcs, among 110 of its corporate events clients – which include Innocent, Sainsbury’s, Gap, Vodafone, HSBC and the NHS – 85% of respondents who have in the past hosted summer events in the capital said they will be moving their events outside of London. Of the survey respondents, 42% regularly host events in the capital, with 40% of these London events taking place during the summer months. Some 15% of those who plan meetings, conferences and events in the capital said they plan to postpone any activity to later in 2012. The reasons for their decision to host events outside of London included cost (58%) and likely transport issues (17%).

The research from Center Parcs is supported by the findings of the European Tour Operators’ Association, which predicts an average 90% downturn in bookings in London during next summer.

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