Coventry’s visitor economy reaches £495m

Tourism in Coventry is recovering much faster than in the rest of the region, with its visitor economy reaching £495 million according to new research.

In 2021, the city experienced a £265 million increase on the previous, pandemic-hit year, with big events such as Coventry’s year as UK City of Culture boosting the city’s visitor economy.

The report, commissioned by destination management organisation Destination Coventry and formulated by Global Tourism Solutions using its Scarborough Tourism Economic Activity Monitor (STEAM) model, uses 2021 data to show the economic impact of tourism in the city.

The STEAM model shows the number of visitors attracted to a destination along with the amount they spend in the local economy, using data such as attractions footfall, car park usage, festival and event statistics and hotel market data to generate the report.

All areas of Coventry’s tourism sector have seen growth, including in the number of available hotel beds and other accommodation along with the total number of visitors.

A further 1,722 hotel beds have been developed in Coventry to accommodate the 8.2 million visitors it attracted last year. Tourist numbers were at their highest in July and August, as the city emerged from pandemic restrictions with the UK City of Culture in full swing.

The city’s tourism economy supported nearly 5,400 last year, compared to 2,700 the year before. With results also showing an overnight spend per head of £220.56 and day visitor spend of £40.46.

Coventry’s 103 per cent rise in visitor numbers makes its rate of recovery faster than the wider West Midlands, with saw a 72 per cent increase from 2020 to 2021.

Read more - Manufacturing and engineering recruitment firm Metalis launches Coventry office

Paul Jones, Managing Director of Destination Coventry, said: “We’re absolutely delighted with the rate of recovery that the visitor economy has seen in Coventry and how that has accelerated ahead of some of our neighbouring regions.

“It is easy to forget that at the start of 2021 we were still in Covid-19 restrictions, as a matter of fact the first UK City of Culture event was held when restrictions were still in place.

“So, to have recovered to this extent is excellent and the figures featured in this latest economic impact report are certainly something the tourism sector in Coventry should be proud of.

“We’re expecting another strong set of results for 2022 as the city continues to reap the benefits of City of Culture and other major international events.”

Corin Crane, Chief Executive of Coventry & Warwickshire Chamber of Commerce, said: “It’s been an incredible couple of years for the hospitality and tourism sector in Coventry and these figures prove that.

“In the few months I have been working in the city I am continually impressed with the strength and innovation of businesses we have in the sector. Events such as City of Culture have set the foundations for success here in Coventry and now it’s up to us to capitalise and keep that momentum going.”

Councillor Jim O’Boyle cabinet member for jobs, regeneration and climate change said, “It’s great to see such positive figures for this really important sector – which is vital to job creation and the economic success of the city.

“Now we need to continue to build on this and attract even more people to enjoy a day or a  few days here. We have the hotels, we have the attractions and we can certainly give a very warm Coventry welcome.”

Read more - Artwork unveiled to mark 75th anniversary of AC Lloyd