With the aim to understand the level of business confidence in the city, we approached business travellers to ask how they feel about doing business in London.
We invited guests who visit London for work to take part in our business survey to grab their thoughts on the economy for business in the city in 2019 and their forecast for the upcoming year.
The survey was sent to business travellers across all industries and respondents were across all age groups. As a result, we are delighted to share that six out of ten responded a strong level of business with 61% saying that they are either “confident” or “very confident”, 30% being “somewhat confident” and the remaining 9% says that they are “not confident”.
To highlight the results by age group, 67% of the respondents were aged above 45 and 41% of which feels “confident” or “very confident”. The level of confidence doubles to 82% for respondents aged 45 or younger.
Looking at the results by the hospitality and tourism sector, 61% respondents feel confident towards doing business in London in 2020, 31% being “somewhat confident” and 7.5% being “not confident at all”.
Almost 99% of individuals from the Banking and Finance industry said that they feel “very confident” with 1% respondent saying that they are “not confident at all” for business in London in 2020.
13% respondents from the Healthcare and Medical sector said that they are “not confident at all”.
In terms of travelling to London for business in 2020 in comparison to 2019, 92% said that their stay will remain the “same” or “more expected more stays in 2020” and 8% who “expect fewer stays”.
We took note that respondents from the Arabian Gulf States were the most confident, with 75% expressing a high level of confidence for doing business in London in 2020.