More companies do capital business

The economic upturn is being reflected in the number of companies likely to be increasing their activities in London.

London is benefiting from the economic upturn
London is benefiting from the economic upturn

Of firms which visit London regularly on business, 10% expect to do as much as 40% more business in the UK capital this year.

A further 10% said they expected to do 20% more business in London this year, while, overall, 35% of the 200 companies polled said they were likely to do more business this year than last year.

The survey was carried out by luxury serviced apartment company Cheval Residences.

Of the businesses surveyed, the majority (60%) were attending London for conferences or meetings and a quarter were working for the London arm of their company.

In addition, 23% said they were visiting the capital to showcase their business or organisation in London, 13% said they visited London to agree commercial terms with London businesses and 7% were visiting to set up a new business in the capital.

Eight out of 10 business respondents said they stayed for fewer than seven nights but 5% said they stayed for more than a year at a time, 3% for up to a month and 8% for at least a week at a time.

More than a third said they visited London more than 10 times a year, one fifth visited between five and 10 times a year and more than a third of respondents visited fewer than five times a year.

George Westwell, director of Cheval Residences, said: "The confidence of business organisations visiting London augurs well for continued economic expansion in the capital."

Patricia Yates, director of strategy and communications at VisitBritain, said: "The number of business visits to London is showing good growth.

"We saw a 20% increase in visits between 2009 and 2012 and we expect growth to continue in 2014. These business travellers are hugely valuable to Britain's economy. In 2012 there were 3.1 million international visits to London for business purposes alone and £2.7 billion was spent during those visits."