(Credit: Tourism London) 100 Kellogg Lane has become one of the city's primary economic landmarks.
After London posted the largest GDP increase across Canada in 2023, the city is expected to slow down its economic numbers through the remainder of 2024.
The reports of an economic slowdown in the city come as the Conference Board of Canada released its latest projections.
Even with the decrease, London would still be placed above the national average, being ranked in the top 6 major cities nationwide.
“Well, I think you know we are lucky to have so many attractions,” says Director of Culture & Entertainment Tourism with Tourism London, Natalie Wakabayashi.
“I think the 100 Kellogg Lane in itself is just an incredible attraction to be able to market for our community and it’s still growing. I mean the Hard Rock Hotel hasn’t even opened yet, but there’s something under that roof for literally everyone to do.”
Wakabayashi goes on to say that, even with an apparent slowdown, it’s almost negligible to the city. She says growth can be seen across the city in various industries.
“London as a community is also growing at a tremendous rate. We’ve got a lot of organizations that are making London home and our counterparts over at the London Economic Development Corporation are working really hard to bring organizations to the headquarters and things like that into London.”
The report created by the Conference Board of Canada, covers 24 of the major cities across Canada, taking into account interest rates, business sectors, and more.
Wakabayashi says London stands out amongst the rest due to the city’s overall adaptability.
“You know, it’s not just the one offering that we have. We’re not just reliant on the weather and beaches, or we’re not just relying on one single attraction. We kind of have that ability to be flexible or be all things to all those who visit, which is great.”
The increased economy that the city has seen over the past few years can easily be tracked through events and hotels in particular.
(Credit: Tourism London) Hotels in the city have become one of the key markers for tourism and economics in the city.
“We have seen the return of our attendance numbers,” says Wakabayashi.
“We’ve seen the return of our hotel rates, which at the end of the day is how tourism is measured as an economic driver within London.”
She goes on to say the city’s location also provides a major benefit, being located right in the middle of other major cities in Southwestern Ontario.
“Our location is so fantastic. You know, two hours from Detroit and two hours from Toronto, very easy for someone to make a weekend getaway. We draw from a lot of the rural population as well to come in for a weekend, into what they considered to be the city.”
She says the combination has helped London to become one of the quickest cities to recover after the pandemic, expecting the city to now boom into 2025.
“That all adds to more people curious about what we have to offer and why London has them coming out to explore and see our city.”
