London's West End will receive a major boost later this week when thousands of people flock to the UK capital for Queen Elizabeth II's platinum jubilee weekend.
Retailers in prime shopping areas, including Bond Street, Oxford Street, Regent Street and Mayfair, will enjoy a sales boost of more than £80 million ($100m) during the festivities from June 2 to June 5, according to research by the New West End Company.
It comes as the capital lifts nearly two years of Covid-19 restrictions that resulted in a dramatic fall in spending on its high streets.
Dee Corsi, chief executive of the New West End Company, said the area would be “transformed” by jubilant street parties, pageants and the British monarch's birthday parade.
“Uniquely British events, such as the queen’s jubilees or royal weddings, are a boom for high streets across the UK, with revellers coming out in force to eat, drink and shop over the long weekend", she said.
"We strongly encourage the great British public to come out, support their high street".
Boost for London and the West End - in numbers
2.6 million domestic and international travellers are expected to visit London during this week's celebrations.
£80 million. Retailers and business in prime shopping locations are expected to enjoy a significant sales boost due to increased footfall.
£400 million. The new Elizabeth Line is likely to deliver another huge boost to the area as London's transport capacity is increased by 10 per cent, bringing more shoppers to central districts, including Paddington and Bond Street.
£10 million. Cost of Mayor Sadiq Khan's Let’s Do London campaign, the largest international tourism campaign the city has ever seen to attract global visitors back to London.
£1.3 billion. Total boost to the British economy over the jubilee weekend as patrons splash out in bars, restaurants and supermarkets.
19 million people are planning on taking part in jubilee celebrations, including eating out, street parties and watching events across the UK.
5.3 million people plan to take an overnight break during the four-day weekend in Britain's largest towns and cities, with London being the leading destination.