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Brexit Referendum Boosts London Event Inquiries
London has experienced a major increase in inquiries from U.S. event planners after the United Kingdom’s referendum to leave the European Union.
Within two months of the so-called “Brexit” vote, there was a 66-percent jump in U.S. inquiries compared to the same period in 2015. And between June and September of 2016, inquiries from U.S. companies went up by 22 percent. The uptick is attributed to the devaluation of the British pound caused by the referendum.
“The weaker pound has been positive for our North American clients, a number of whom have called us to arrange early payments for their events in order to take advantage of the preferential exchange rate,” said James Rees, executive director of ExCel London, a convention center located in the London borough of Newham.
Paul Miller, managing director of Spectra Travel England Ltd., said Brexit caused an “unprecedented surge” of new event inquiries from outside and inside the European Union.
In addition to increased U.S. interest, inquiries from the Middle East and Africa went up 22 percent.
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