Olympia, the landmark \u00a31.3 billion redevelopment of London\u2019s historic exhibition venue, will inject over \u00a3600m into the London economy.<\/p>\n
That\u2019s the latest analysis by economic consultancy Volterra.<\/p>\n
Set to begin later this year, Olympia will become a vibrant cultural, entertainment, and business hub. Other topline data includes:<\/p>\n
\u00a0* \u00a0\u00a0Olympia\u2019s new music venue and theatre alone will contribute up to \u00a318m per year to London\u2019s cultural sector;<\/p>\n
\u00a0* \u00a0\u00a0The redevelopment is set to attract 3.5m visitors to Olympia\u2019s new hotels, events and performance venues, with projected visitor footfall of 10m annually;<\/p>\n
\u00a0* \u00a0\u00a0Olympia\u2019s transformation will create 7,000 direct jobs supporting an additional 2,000 jobs in London and beyond through supply chain and expenditure effects;<\/p>\n
London Mayor Sadiq Khan says: \u201cThe regeneration is one of the most exciting projects in London, creating a fantastic new music venue and theatre and giving one of the capital\u2019s most famous exhibition spaces a 21st century makeover.<\/p>\n
\u201cThis is exactly the kind of project that London needs \u2013 helping us to attract tourism, enhancing our cultural offer and delivering a huge boost to the economy.<\/p>\n
\u201cI am doing everything I can to attract new investment into the capital and schemes like this will help us to deliver growth in London and across the UK as we work to build a better, fairer and more prosperous London for everyone.\u201d<\/p>\n
Lloyd Lee of Yoo Capital says: \u201cOlympia will be a driving force in bolstering the UK\u2019s economy. This data confirms what we\u2019ve always believed in: that strategic, long-term investment in culture and the creative industries delivers significant economic returns. Olympia stands as a key pillar of investment in the UK, reinforcing the substantial economic contribution of the nation\u2019s cultural and creative industries and furthering \u2018brand Britain\u2019.<\/p>\n
\u201cCultural hubs like Olympia flourish through public and private investment and it\u2019s important to recognise that the business world is not just supporting London\u2019s cultural sector but actively shaping its next chapter.\u00a0<\/p>\n
\u201cInvestment in London\u2019s creative industries is crucial in driving economic growth \u2013 with the Summer Spending Review on the horizon, we hope to see continued commitment from the government in supporting the creative industries, not only through policy and funding but by recognising culture as a driver of long-term economic growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Olympia, the landmark \u00a31.3 billion redevelopment of London\u2019s historic exhibition venue, will inject over \u00a3600m into the London…\n","protected":false},"author":2,"featured_media":83195,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7757],"tags":[748,52080,393,4884,257,16,15],"class_list":{"0":"post-158773","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-london","8":"tag-britain","9":"tag-commercial-property","10":"tag-england","11":"tag-great-britain","12":"tag-london","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114627757094573567","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/158773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=158773"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/158773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/83195"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=158773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=158773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=158773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}