London’s hospitality sector is booming again, having raked in more money in 2023 than it did in 2019, beating pre-pandemic levels for the first time.
The capital’s cafes, restaurants, pubs and clubs scooped up £46bn in revenue, up from £43bn in 2019, according to data hailed by Mayor Sadiq Khan as proof of the industry’s “phenomenal resilience”.
Responsibly for some of that post-pandemic bounceback is the London music scene as millions of people attended live music events across the capital in 2023.
Three of London’s biggest stadiums welcomed more than 1.2m visitors at concerts: Beyoncé brought 225,000 to her show over five nights at Tottenham Hotspur Stadium, and 160,000 enjoyed The Weeknd at the London Stadium in the Olympic Park.
Plus, we could see more of the same this year, as Taylor Swift’s UK tour comes to Wembley Stadium in June, having boosted the US economy in 2023.
For the small independent music venues across the capital, though, it’s not going so well.
Last year alone 120 grassroots venues in London closed down, with some owners describing a “decline in footfall” in recent months.
Hospitality businesses remain cautiously optimistic, as London’s mayor has warned that the sector is still struggling with rising costs and “growing challenges with recruitment”.
Our Local Democracy Reporter Noah Vickers tells The Standard podcast what’s caused London’s hospitality sector boom, and explains why it may not be as explosive as it looks.
Plus, our Arts Correspondent Robert Dex discusses the reasons small music venues are struggling, and the potential ways to secure their future.
Listen above, find us on Apple, Spotify or wherever you stream your podcasts.
