42 . Glasgow Business August 2016
FROM FESTIVAL
Glasgow has been recognised as the UK’s largest and most successful shopping area outside of London
B
arely had the hubbub of Glasgow's first ever retail festival died down before new evidence
emerged of the city's pre- eminence as the UK's top retail destination outside London. Independent reports spelled
out the facts and figures on Glasgow's nightime and retail economies, and the impact that success has on the rents that retailers face. Te five-day retail festival took
place in May. Tere was a wide range of activity, including a festival hub in Buchanan Street. At the time, Joe Aitken, Head
of Major Events at Glasgow City Marketing Bureau, said: “Glasgow is recognised as the UK’s largest and most successful shopping destination outside of London’s West End. Our 'Style Mile' is home to an extraordinary concentration of some of the world’s biggest and most iconic brands as well as every major high street retailer, which sit seamlessly alongside a diverse variety of independent, boutique and exclusive designer stores.” Te revenue and employment
generated by retail was revealed soon aſter. In June, it was confirmed that the sector is currently worth £3.3 billion to the city and supports 17,000 jobs. Tose figures were part of a study that looked at Glasgow's night time and retail economies. Commissioned by Glasgow Chamber of Commerce, the study was carried out by Glasgow Caledonian University's Moffat Centre for Travel and Tourism Business Development. (It also revealed that the combined sectors contribute a total of £5.46 billion to the city’s economy, and support over 33,000 full-time jobs.)
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