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JLL has been commissioned by London Luxury Quarter to report on the rise of the Quarter over the last three years, after penning a report of the same title in 2012. The global appetite for luxury remains strong, with London and in particular London Luxury Quarter, at the forefront of this demand. Established in 2010, London Luxury Quarter is an initiative conceived and delivered by Heart of London Business Alliance and New West End Company. The Quarter is positioned as a global destination and is marketed worldwide, attracting visitors from across the world, with an estimated £4.9bn spend per year. 'London Luxury Quarter: Global Destination Appeal’ charts the recent fortunes of the Quarter and identifies challenges and opportunities for future growth.
• London Luxury Quarter attracts visitors from across the world with an estimated £4.9 billion retail spend per year. London & Partners forecast average growth of over 4% in overseas visitors in the next five years, reaching 21.7 million by 2019.• London Luxury Quarter showcases over two-thirds of the world's top 100 luxury brands with over 70% of the world's top 100 luxury brands now having a presence with London being the number 1 home to more luxury brands than any other city in Europe edging out Paris as Europe's most attractive city for both international and luxury brands. • London is the number 1 city for direct real estate investment for the last four years; Residential property in the Quarter was extremely resilient post the economic downturn, with values increasing 58.5% from 2009 to Q2 2015.• London has the number 1 rank globally on JLL's new City Momentum Index 2015, rising from second place last year.• With a 3.8% retail sales growth forecast, London has the strongest growth in Western Europe.
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21 October 2015