Tourists contribute incredible £11.26bn to London economy

Tourists seem to be everywhere you go in London. They can often be found asking the way to Buckingham Palace from the Mall, dawdling along Oxford Street, or riding around on open top buses and taking pictures of mundane streets.

But the contribution which visitors to the capital city make to its economy should not be underestimated.

According to Mastercard’s annual Global Destinations Cities Index, tourists spend a mind boggling £11.26bn in London each year.

This year alone, 18.7 million of them are expected to expected to flock to London from overseas, making London the top global destination, and beating nearest rival city Bangkok by 300,000 visitors.

With more than twice the number of tourists coming to the capital each year than there are residents of London, it’s not a massive surprise that the amount tourists spend roughly equates to £1,387 per resident, with those coming from New York happy to splash the most cash, contributing an incredible £592 per resident per year.

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