£1.25bn trade boost for pubs and restaurants from spring/summer events

By Michelle Perrett

- Last updated on GMT

Related tags: Olympic games, Summer olympic games, Olympics

The combined impact of the Diamond Jubilee, Euro 2012 and the Olympics is set to increase trading in bars and restaurants by about £1.25bn, according to estimates from accountancy firm BDO.

The Jubilee would have brought an extra £150m, said BDO retail analyst Jamie Talmage. Despite the poor weather, spending was lifted “on a par” with last year’s royal wedding.

He said the sector could have expected a spending boost of circa £800m (about 3%) due to Euro 2012. Pubs were likely to have benefitted most, while for restaurants the picture would have been “mixed”.

Talmage said the impact of the Olympics would also be mixed, with an increase in tourism mitigated by a fall in usual trade due to concerns about overcrowding and high prices.

However, most evidence suggests that the impact will be positive, and he predicts an overall £300m increase in trade for pubs and restaurants.

Ninety per cent of the trading uplift will take place in London, he said, although attractions such as the torch relay and other Olympic events taking place elsewhere will provide an advantage outside the capital.

Talmage said that over the long term, the Olympics could be worth £2bn to the sector because the exposure will encourage visitors in future years.

Related topics: News

Property of the week

The Hazeldene Hotel

- Tenancy

The Hazeldene Hotel is opposite the Famous Blacksmiths Shop in Gretna Green. With 11 letting rooms, it is in a prime location to offer fantastic...

Follow us

Pub Trade Guides

View more