London 'cheaper for events than New York'

11th March 2009

<p>London is now cheaper than New York for staging international events because of the weakness of the pound, according to a new survey.</p><p>The latest Worldwide Cost of Living report by the Economist Intelligence Unit, shows the British capital is less expensive to visit and inhabit that the US city. </p><p>London now ranks joint 27th compared to New York's 23rd placing in the list, which is based on factors such as rental prices, hotel costs and even the price of everyday items such as a loaf of bread.</p><p>Sally Chatterhee, interim chief executive officer of VisitBritain, says there has never been a better time to choose London.</p><p>"Venues and hotels are also looking to support our lead in this area by providing extremely competitive rates to go even further than the exchange rate benefits," she adds.</p><p>Meanwhile, Richard Waddington, chief executive of First Protocol, said recently that businesses are more likely to prioritise content over luxury when it comes to choosing venues during the recession.<br/><img alt="ADNFCR-1753-ID-19068893-ADNFCR" src="" /></p>