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STORAGE SOLUTIONS

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Dear Member,

It’s summertime and we start to look at our tourism and hospitality sectors in more detail. We have a great relationship with Shakespeare’s England and we deliver contracts for our LA partners offering much needed support to hospitality businesses across Warwickshire. We hope to grow this work through collaboration around the national initiative of Local Visitor Economy Partnerships.

We are also involved in a formal partnership with Coventry City Council to develop a proof of concept with Destination Coventry. This is becoming a huge success and epitomises how powerful the public and private sector are when they work together.

Each year we collect visitor economy data for Coventry to see how we are performing. When we analyse the data it’s important to look at the figures from 2019 as well to see if we are returning to pre-pandemic highs. And we are! The figures for Coventry are excellent, we are outperforming everywhere else in the West Midlands and have officially put the pandemic behind us:

• Visitor numbers in 2022 rose by more than 1m, from 10.03m in 2019 to 11.05m in 2022

• Coventry’s visitor economy was worth £750.86m in 2022, up 26% (or £156.5m) compared with 2019

• The number of full-time equivalent jobs supported by the sector was up by 8.8%, from 6,760 to 7,350

Most importantly we have momentum – from the City of Culture, through the Commonwealth Games, the Christmas celebrations, the excellent Godiva Festival and huge gigs at the Coventry Building Society Arena and Coventry City FC’s run at promotion – people are looking at our great region and deciding it is a place they want to visit and engage in. The transformation of the Belgrade Theatre and The Albany Theatre, the snowballing success of the award-winning HMV Empire and the excellent developments of the Cultural Gateway at the old IKEA building mean that there are more reasons than ever to explore the area.

But if we are to maximise the economic benefits of all this, we need to make sure the hundreds of small businesses that support this sector have the tools they need to grow. The bars, restaurants, hotels, creative industries, transport companies and professional services businesses get the skilled staff and sympathetic business support they need.

This will be the number 1 challenge for how we use the successor to European Funding – the UK Shared Prosperity Fund (UKSPF). We need to make sure as much of this money goes on business support for the smaller businesses who don’t have anywhere else to turn. UKSPF is taking too long to materialise, Chambers of Commerce are first class deliverers, and we hope that we can get our allocation of UKSPF out to market as soon as possible – our businesses need it now.

And looking at the summer months, I hope to have the opportunity to meet many of you at our Summer Networking BBQ & Artisan Event, taking place on Tuesday 1st August at the Heart of England Conference & Events Centre!

I hope you all have a great Summer!

Corin Crane Chief

The

official publication of the Coventry & Warwickshire Chamber of Commerce

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