The Notebook: Neil Clifford on dyslexia, profit with purpose and the greatest American asset July 24, 2023 Where interesting people say interesting things. Today, it’s Neil Clifford, chief executive of London luxury brand Kurt Geiger Profit with purpose is keeping us on the right track I left school in 1983 with a single qualification to my name: an O-level in art. I was dyslexic, but I didn’t find that out until years [...]
The tourist tax is hurting Britain, no matter what Rishi Sunak says July 7, 2023 Tourists pay an extra 20 per cent for shopping in London than in Paris or Milan.
Legoland owner Merlin surges back to profit thanks to tourism and staycations June 30, 2023 The return of tourists and families enjoying staycations has propelled sales and earnings for the owner of Legoland and Thorpe Park. Merlin Entertainments, which is one of the world’s biggest operators with more than 140 attractions, theme parks and resorts, said it had millions more visitors last year. The multinational group saw its revenues surge [...]
Brands in London “suffering”: Fresh calls to scrap ‘tourist tax’ amid Mulberry losses June 28, 2023 Fresh calls have been made to reinstate VAT-free shopping for international tourists, after the chief of Mulberry warned its profits have been hit hard by it as they ditch London for Paris and Milan. Pre-tax profit at the British handbag maker fell to £13.2m in the year to April, down from £21.3m the prior year. [...]
The Notebook: Sir Rocco Forte on the hated tourist tax, counteracting climate hysteria and Boris Johnson’s legacy June 26, 2023 The Notebook is a column where interesting people say interesting things. Today, it’s hotel industry giant Sir Rocco Forte, chairman of Rocco Forte Hotels My hotels in Italy, Germany and Belgium are booming. But occupancy in London is not what it was last year nor what we saw pre-pandemic. Official statistics bear this out, showing [...]
The Notebook: Neil Bennett on scale-up funding, bounce-back Britain and a Love Supreme June 14, 2023 Roll up, roll up ladies and gentlemen for the greatest sale on earth, a once in a generation opportunity to snap up corporate assets at unrepeatable prices. If you don’t, my (imaginary) new investment firm, Car Boot Capital, will certainly do so. It is a truth universally acknowledged that we are living through a liquidity [...]
Fresh calls to end tourist tax as London risks ‘losing out’ to rival EU cities May 30, 2023 The policy chair of the City of London Corporation has made fresh calls for an end to tourist tax on foreign shoppers, warning that the capital could lose out to rival European cities. Writing in City A.M, Chris Hayward, said that London’s recovery is “not being maximised,” noting that the Treasury’s decision to scrap the [...]
Scrap the tourist tax hurting our hospitality businesses or lose out to Paris and Madrid May 30, 2023 Tourism is incredibly important for London, but to keep London important for tourism, we have to make it more attractive for foreign visitors to shop here, writes Chris Hayward.
Retail sales up in April but analysts warn on implications of further rate hikes May 26, 2023 Retail sales volumes recovered slightly by 0.5 per cent in April as the sector was lifted by the Easter holidays, however high inflation and strains on household finances continue to hinder spending. Non-food stores sales volumes rose by 1.0 per cent during the month, data from the ONS shows, following a fall of 1.8 per [...]
Europe capitalising on UK’s ‘tourism tax’ as retailers call for overhaul May 24, 2023 International tourists are spending more in Europe than in the UK as Britain’s retail sector continues to be hamstrung by the government’s decision to scrap VAT-free shopping, members of the House of Lords warned yesterday.