Set to a backdrop of a UK economy that saw real gross domestic product (GDP) increase by 0.2% in Q2 2023, spend in Bristol City Centre businesses stood at £131 million – a 19% increase on Q1 and a hugely significant uplift given the context of the national growth average.
We know that Bristol loves to eat and drink – and Q2 spend at city centre restaurants, bars and nightclubs reinforced this, with investment of £35.7 million – a 14% increase on January – March.
At a time where the UK is seeing hospitality businesses sadly closing doors, this level of spend is promising in our city’s night time economy businesses (those that operate between 6pm and 6am).
Bristol also likes to look good – and spend on clothing stood at £19.4 million within Bristol City Centre postcodes between April and June – a significant increase on the first three months of the year, where spend in the sector was £13.5 million.
The South West pound is strong within our businesses too. More than 60% of the spend in Bristol City Centre in the second quarter of the year came from those of us that live in Bristol and South Gloucestershire – and in June specifically – this stood at a staggering 77%. This significant local investment within our regional economy is brilliant to see.