MIPIM 2012: Birmingham’s visitor offer is key driver of local economy
BIRMINGHAM’S booming visitor economy is vital to the growth of the city’s economy, say local businesses.
Some 70% of local businesses rely on the area’s diverse visitor offer to generate income, or regularly use its leisure and hospitality facilities for their business, according to an exclusive survey run by Business Birmingham with TheBusinessDesk.com. Of this, a third said they actually relied on the visitor economy for their business.
Ian Taylor, commercial director for Marketing Birmingham, which operates the city’s leisure and business tourism campaigns, as well as inward investment programme Business Birmingham, said: “It seems that the vast majority of the area’s businesses are benefiting from the success of Birmingham’s visitor economy, which brings £4.6 bn into the local economy annually.
“The diversity and quality of our offer is what is attracting visitors – from Michelin-starred cuisine and acclaimed arts, to the scale and quality of our business and conferencing venues. Birmingham is becoming a global destination to watch.”
Birmingham’s visitor economy has grown significantly over the last five years with visitor numbers rising by 13% from 29.1m to 32.8m in 2010. These figures fuel the sector’s growing economic impact, which has risen by nearly three quarters (72%) in the last five years – from £2.7bn in 2005 to £4.6bn in 2010. The strength of the city’s visitor economy has also created 21,220 jobs over the last five years, with employment in the sector going up by more than half (57%).
Mike Whitby, leader of Birmingham City Council, said: “Birmingham’s visitor economy has seen strong growth in recent years – from visitor numbers, their economic impact and the number of jobs created by the sector.
“The city’s continued investment in its infrastructure, transport networks and resources to promote its offer at home and abroad have helped to attract new visitors and provide them with the high quality experiences they need to return, and to recommend Birmingham to others.
“This growing reputation is what, in turn, has created economic growth and jobs for the city.”
Developers are increasingly recognising the potential of the city as a leisure and business tourism destination with almost 30 new hotels currently in various stages of planning and construction.
The success of the city’s visitor economy and its potential for further growth will be highlighted at MIPIM – the world’s largest property investment conference – this week.
Birmingham’s MIPIM events programme – which is being managed by Business Birmingham – will showcase the city’s return on investment for hospitality and venue developers with an event on March 8. The event will outline how investors in the area have leveraged recent tax incentives to boost the city’s hotel and venue offer and discuss the opportunities available for further growth.
For more stories about Birmingham at MIPIM click here.
