Growth leads to growth, success breeds success. As the latest figures reveal London has recorded the fastest rise in business activity in the last month the rest of the capital needs to prepare for the “bounce effect”.
PRLog - Oct. 23, 2013 - STAINES, U.K. -- The “bounce effect” is the knock on effect of confidence in The City and London as businesses grow and the benefits are felt throughout a wide range of industries in the capital. To fully reap the benefits, the business travel market needs to be ready for growth.
When the financial capital of Europe, London, began to feel the effects of the global economic downturn, the negative trend seeped into other corners of the market rapidly. The business travel sector, reliant on confidence and the ability of firms to expand and grow their companies, was hit with a decline in bookings and interest. The same was felt by other sectors like food and drink, creative industries and retail. The business travel sector did what it could to weather the storm and respond to the needs of a more budget-minded industry.
Now the dial has turned and the latest figures suggest a return to strong growth across England and Wales with firms in the capital expanding at their fastest rate in almost four years. In what is being described as a “robust business climate” even areas that have struggled the most in the years since the financial crisis are seeing a resurgence.
It is more than just confidence and performance. Backlogs of work are leading to an increase in firms hiring new members of staff and creating new posts. Specialist recruiter Morgan McKinley highlighted an 8% increase in job opportunities in the financial services sector compared with August.
For Clarendon Serviced Apartments, who provide short term accommodation in The City, Canary Wharf, the West End and South West London, this return to confidence is welcome news and means there is need to prepare for the “bounce.”
Peter Morgan is Marketing Manager for Clarendon Serviced Apartments, “Business growth will lead to an increase in business travel. Hiring new staff will mean more people looking for short term accommodation while they relocate. A serviced apartment provides a flexible and cost-effective solution for business travellers. Clarendon’s wide range of locations in the heart of the capital allow travellers to balance work and lifestyle easily, making it an attractive option. In the same way the business travel community prepared for the downturn, now they need to get ready for the bounce to reap the benefits of growth and attract new clients.”
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The business travel market needs to be ready for the “bounce effect”
October 23, 2013 at 11:35 AM EDT
