The Elizabeth Line: a Landmark Step in London’s Journey

Ruth Duston, CEO of London Heritage Quarter and MD of Primera Corp explains why the opening of Bond Street is another step in an ongoing renaissance that ensures London will continue to be the destination of choice for workers, visitors and residents

Ruth Duston, CEO of London Heritage Quarter and MD of Primera Corp explains why the opening of Bond Street is another step in an ongoing renaissance that ensures London will continue to be the destination of choice for workers, visitors and residents

In its inaugural months, the Elizabeth Line has already become a lifeline for commuters across London with total journeys surpassing 60 million since its opening in May of last year. With estimates predicting the line will serve up to 200 million people every year, we have witnessed a landmark moment in the future of London’s transport network.

Few cities in the world can match London’s rich and vibrant culture. Full of bustling communities, and creative arts, food and drink scenes, London is home to some of the world’s greatest hotspots and becomes a global hub for entertainment and nightlife after hours.

The benefits to commuters across Greater London and tourists visiting the Capital are unmistakeable. But the understated benefits come to those who arguably need it most: local businesses.

London has historically been the epicentre of business in the UK. From supporting a flourishing network of startups and independent retailers through to the City of London that competes on a global scale with some of the most advanced and robust financial districts in the world. Both ends of the spectrum greatly rely on the city’s sophisticated rail network to bring in valued tourism and commuters.

It’s these businesses that will be able to reap the benefits of increased international and domestic tourism. The opening of the Elizabeth Line comes at a crucial time for local businesses as attempt to navigate the compounding effects of rising inflation and increasing costs – not least as they attempt to repair long-term damage from the pandemic and fallout of Brexit.

With the festive period ripe for tourism, businesses are desperate to take advantage of the increased footfall the opening brings.

Early indications already show a bright future for London thanks to the opening. The West End alone is expected to see boosted revenues by £7 billion over the next decade, and a seven per cent boost in annual performance by 2031. It is now expected that the line will become the main mode of transport for 13 per cent of visitors into the West End by next year.

We must not underestimate the impact on London in its entirety over the coming years. Thanks to better connectivity and a fluid transport option for domestic and international tourism, we will witness a positive ripple effect across the Capital.

What the future holds

Not only is the Elizabeth Line a valuable addition to London’s underground network, with its sleek and state-of-the-art design flooded with natural light and coffered ceilings that sets it apart from other underground lines, it’s a nod to what the future has in store for London’s transport system. In fact, it serves as a reminder that investment in London is what helps the capital keep its competitive edge across Europe.

But this must be underpinned by a modern and well-connected transport system. The opening of the Elizabeth Line is a landmark step in its ongoing renaissance that ensures London will continue to be the destination of choice for workers, visitors and residents.

London’s rich and vibrant culture is testament to its high-quality infrastructure. We are lucky to be part of the city’s development and see projects like the opening of Battersea Power Station bring new life to London and the surrounding areas. Similarly, the Strand Aldwych has undergone a £22 million regeneration and pedestrianisation project that will open to the public in December. Designed to provide a modern space for locals and tourists that champions local culture, it has become a new world-class destination for London. It is testament to a successful cross-sector collaboration, and is an indication of a new era characterised by public-private partnerships. We need to continue on this path in the future, working together with public sector partners to find new funding models and create new partnerships to drive investment towards the city’s infrastructure.

Investment in London isn’t only important for the communities within – and we cannot shy away from the vital role it plays as our capital city across the UK. It is the positive trickle-down effect of a strong and prosperous capital that supports the surrounding economies and livelihood of our cities. It is now time for a new narrative and a new national discourse about the economic opportunities of cities: celebrating success, spreading prosperity and supporting growth.

A sustainable future

It is projects like Crossrail that futureproof London and ensure it continues to be designed around the changing needs and desires of locals, businesses and tourists alike.

That’s why together with our partners, we are focusing on projects that reflect the growing importance of London as a destination. The number of people living in the capital is set to reach ten million by 2030 and London still ranks highly in the Global Cities Index, claiming the third spot in the list of the most popular global cities for tourists. It is vital that our transport system supports continued growth and mobility. Thanks to investment, a continued development pipeline and a growing, diverse leisure offer, Victoria is now one of the most important business districts in London. But we must not rest on our laurels. The Future Victoria project, which is bringing together public and private sector partners, will seek to transform the mainline railway station and the wider area, benefitting commuters, residents and visitors.

The Elizabeth Line is a model example of one of the ways in which our cities need to develop to accelerate progression towards net-zero commitments. We need to collectively come together to support further investment in and support for greener travel solutions across London. It’s mutually beneficial both to reducing car traffic above ground, and developing streamlined, energyefficient solutions below the surface.

Reinstate London’s vibrancy

Times have been tough for businesses across the UK. Beyond attempting to recover from the stalling effects of the pandemic, they have since been hit with rising costs and falling disposable income on the customers they rely on. The same can be said for London’s economy in its entirety.

Consequently, it means London’s culture and vibrancy has also taken a huge blow. From hybrid working to rising prices impacting how often people come into the city, the way people interact and engage with London has changed.

But businesses have shown huge resolve in spite of these challenges, and London continues to prosper on its road to recovery. The opening of the Elizabeth Line comes at a crucial time for local businesses as they navigate the compounding effects of rising inflation and increasing costs – and against a backdrop of the pandemic recovery and ongoing fallout from Brexit.

Cities need to be underpinned by an innovative and forward-looking transport.