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London Entertainment 2020

Where are we now?

London’s cultural richness is said to be unmatched by any other city in the world and is central to the sense of identity of its internationally diverse inhabitants.

London’s creative and cultural sector generates total estimated revenues of £25 to £29 billion per annum, employs more than 500,000 people and attracts 56 per cent of the UK overseas visitors market.

London is also home to 3 world heritage sites – Greenwich, Westminster Abbey and the Tower of London; 11 museums of designated national importance; 5,480 sports and recreation sites; 1/3 of the UK's 1,600 performing arts companies; 70 per cent of the UK’s recording studios; a myriad of global cuisines and many other forms of entertainment.

What are the authorities planning for the future?

A complex network of separate agencies, for example London Arts or the Heritage Lottery Fund, funds culture in London. However, there is no single body to provide an overall framework within which these agencies can work.

The Mayor’s powers are limited. His financial resources are much lower than those of London’s cultural agencies and even mayors of other world cities. Consequently, he plans to enter into partnerships and support initiatives to build capacity and raise profile.

If London could attract a world-class event such as the Olympics, the city could be up to £7 billion richer, with increased tourism and local employment.

How are government plans going to affect Euronet members?

• Has London missed out on important opportunities because of lack of leadership and co-ordination in the last decade?
• Is London ready to host the Olympics even though the Mayor does not have the financial capacity to fund such a large event?
• Were your expectations of London met and will the future strategy improve our city?

What are your thoughts? Contact us by emailing london2020@euronet-london.com

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