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Lack of Tourism hurts small Businesses in London

Tourism has been a major economic driver for London and has made a huge contribution towards Britain’s GDP. Lack of tourism due to the coronavirus situation has called on for difficult times for small and medium businesses.
Larry a toy stall owner for 25 years in Jubilee Market, Covent Garden area — popular among tourists for being the entertainment hub of London’s West End. His business was booming before the pandemic but now he sits idle, hoping that some customers would come by.The Jubilee Market in Covent Garden area always use to be abuzz before the pandemic, but now hardly two to three stalls are open.
Mell, who owns a British sweet shop that also sells other items, comes only two days a week now.
“Unfortunately due to ongoing conditions I am suffering like the virus. Nothing is happening at all. Normally this time of the year it’s buzzing. It’s not only the tourists but also the local people. I am missing everyone,” Mell said. ( Source: India Today)
In 2018, according to reports London had generated almost £500 billion from tourism. This UK top city has been attracting over 30 million visitors every year, contributing about £106 billion to the British economy and supports nearly 2.6 million jobs.
The estimated pre-pandemic value of hospitality sector was £133.5 billion as per statistics furnished by a UK hospitality, that is a trade body representing the UK’s hospitality sector.
Its reports have shown that almost 36 per cent restaurant and pubs have been considering shutting down permanently. Only 16 per cent businesses still remain optimistic and hopefulthat market would pick up in the next 12 months.