The Anonymous Widower

What Are The Retail Implications Of Crossrail?

The title of this post is from an article in Retail Week.

This article is typical of what we will see in the coming months, as commentators and analysts realise what effects Crossrail is going to have on London and the South East.

The enormity of the project is summed up by this paragraph in the article in Retail Week.

There are 40 construction sites in total and 1,700 companies involved – all the major developers are in on the act, and Transport for London is leading. London will be the greatest beneficiary, but the potential value of the Crossrail project to the wider UK economy is estimated at £42bn.

I think that most Londoners don’t know the effect that Crossrail will have on the city.

If you compare the figures with the Olympics, this article on the BBC says the 2012 Olympics cost £9bn and the UK economy received a boost in trade and investment of £9.9bn. For comparison purposes, the budget for Crossrail is £14.8bn.

It will be interesting to see what the true audited figures for Crossrail are in about 2020.

If they are this good, then we should be looking for more projects like this, all over the country.


May 27, 2014 - Posted by | Transport, World | , , , ,

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