(15 September 2009)

Mayor of London Boris Johnson and New York Mayor Michael R. Bloomberg today announced a two-year tourism agreement between New York City and London to boost travel between the two cities. The cities will provide each other with outdoor media advertising space and will assist each other with at least one publicity event in each city. Americans made almost 2 million visits to London last year and America remains London's number one market for international visitors. Similarly, New York City is the number one destination for UK travellers to the US.

The Mayors made the announcement during an international conference at Columbia University where the two Mayors met to discuss their financial sectors, the diversification of their economies, building and maintaining their capital plants and expanding housing affordability. Mayor Boris Johnson said: 'London and New York City share many similarities, including a strong sense of optimism and determination, along with a great appreciation for diversity and innovation. Our common cultural ties, not least absolute dedication to providing world-class services and experiences for both residents and visitors, make the two cities exceptionally well poised to combine knowledge as well as resources to impact the economies and future of the cities.'

Mayor Bloomberg said: 'Now more than ever - as we work to limit the effects of the ongoing global financial downturn - it is important to find new ways to grow a diverse array of economic sectors, and tourism is among the most important for New York City. New York City and London - both significant sources of travel for each other market - can learn a great deal from one other and we will work together to highlight each other's strengths and remain leading global cities.'

Under the two-year tourism agreement New York City will exchange 71 bus shelters with London that will run in New York City for 4 weeks per year. In return, London will exchange 250 posters for four weeks on the London Underground system twice per year. The yearly value of each city's media is $178,500. The agreement will be a two-year deal - $357,000 to London and $357,000 back to NYC from London.

'Only in London' campaign

Today Visit London also launched its £1millon 'Only in London' marketing campaign, which runs in the US from 15 September to 19 November. The promotion will celebrate the sights, sounds and experiences that are unique to the British capital's history, heritage and culture. The campaign - partnered by Radisson Edwardian hotels and British Airways - will run nationally in the United States (New York, Boston, Chicago, Philadelphia, Washington, Miami, Los Angeles, San Francisco) as well as Canada (Toronto).

The promotion will highlight value deals as well the chance to win a once-in-a-lifetime trip to spend New Year's Eve in London including a New Year's Eve dinner on the Thames through Bateaux London, a VIP Pass to Hyde Park Winter Wonderland, a champagne flight on the London Eye, a private visit to the Royal Academy of Arts, a day trip on Eurostar and a VIP tour of Wembley Stadium.

The Mayor of London will also meet today with competition winners boarding a British Airways (BA) flight to London at JFK Airport as part of an initiative to stimulate business travel from the United States. The BA "Face to Face" initiative follows research by Harvard Business School which shows that while business travel budgets have tightened during the economic downturn, global business executives say face-to-face meetings remain a crucial part of selling new business and building partnerships.

Mayor's Economic Development Strategy

The Mayor of London outlined his vision of making London the business capital of the world, by creating a global centre for excellence across a range of sectors including high-tech, medical services and creative industries. He told audiences that embracing digital innovation is important for businesses on both sides of the Atlantic as they prepare for economic recovery, emphasising that London’s digital landscape makes it the top place to be. With events such as the London Olympic and Paralympic Games around the corner there has never been a better time or a greater opportunity for businesses to build and showcase their digital capabilities in London.

The Mayor said: “The New York markets house some of the most impressively dynamic companies in the world and is where they go to take innovation and growth to the next level – the same is true for London. Our capital is at a turning point, with opportunities to use its energy, dynamism and diversity to excel as a world beating global city. Never before has the timing been more right for American companies to locate here.

“We have an extraordinary talent in London to develop high tech and hugely creative industries. I want to build on that reputation to ensure we lead the pack, creating new technologies. In the coming years, London will set the benchmark for successful, sustainable and prosperous large world cities and American companies should have one of the lead roles in this.”

Michael Charlton, Chief Executive of Think London, added, “The UK’s digital economy is worth $93 billion a year, and it is growing fast. With London already home to a number of digital and social media companies such as Facebook and Google, the city’s status as a global digital hub is expected to grow. London has long been a magnet, and indeed a catalyst, for high growth companies. In fact there has never been a better time to invest in London; with a deeper and wider talent pool, lower commercial property costs, and the depreciation of sterling against the dollar, the global recession has opened a window of investment opportunity in London now.”

With low cost and fast Internet connection, the capital's e-commerce reputation continues to expand at great pace. The Olympic and Paralympic Games are expected to significantly boost the momentum of the London digital media market – the first digital games in history. London retail businesses are growing as they embrace the e-infrastructure already in place in the capital. Marks & Spencer saw online sales increase almost 30 per cent during the third quarter of its financial year, despite falling UK sales, and Debenhams Direct, the retailer's online arm, showed year-to-date visitor numbers and sales up by around 40 per cent.

The Mayor’s Economic Development Strategy, launched earlier this year, aims to build on the capital’s reputation as a world leader in providing high value services, whilst continually improving its competitiveness. Financial services have played an important role in London’s economy and will continue to do so, but the capital needs to promote all of London's strengths including sectors where London leads globally, such as:

- Law, with four of the top six international law firms based here

- Higher education, with more ‘top 100’ universities and more international students than any other city

- Advertising, design and other creative industries,

- Management consultancy,

- Tourism, with more international tourists than any other city in the world.