City is ‘leading the way in recovery and resilience’
BRISTOL is in a “more resilient position” than many other UK cities following the outbreak of the pandemic and is recovering at a faster pace than the national average, according to a new report.
The UK Cities Recovery Index, compiled by real estate group Avison Young, found “relatively positive” business sentiment in the city since early July, particularly in the hotel and leisure sector.
The index uses a range of indicators at a local and national level and includes a series of sector indices that reflect different aspects of city life, including commercial activity, the return to offices, transport, retail, residential and hotels and leisure.
The report suggests the rate of national recovery reached a peak in early September, from its lowest point at the end of April.
But it also found that despite early signs of recovery, a combination of new government guidance and general concern among the public had seen the national recovery level off, and in some cases begin to decline. In Bristol, however, commercial activity has been consistently above the national equivalent since the end of May, according to the data.
Indicators for the city show its hotel and leisure industry has also outperformed the rest of the UK.
An increase in the number of day staycations could have had a positive effect on numbers travelling through the city, said the report.
Retail footfall levels in Bristol also appear to have picked up.
The report also looked at transport in Bristol, with journeys by foot, train, bus, car and air improving rapidly during the summer, overtaking the national level on September 22.
The number of people returning to offices in the city is also now above the national figure, and car traffic has also increased.
Gordon Isgrove, managing director of Avison Young Bristol, said: “The extent and timing of recovery has varied across sectors and cities and it’s therefore encouraging that
the indicators for Bristol tell a relatively resilient story, particularly in the areas of commercial and hospitality activity.
“Relatively positive business sentiment has underpinned the strength of the sector index of late and has been around 10 per cent above the national figure since early August. In fact, when it comes to travel around the city, Bristol is the only UK city to track higher than the national figure.
“Bristol currently sees itself in a more resilient position than many other UK cities.
“This doesn’t surprise me as Bristol is an incredibly diverse business economy, although we need to see this trend continue.”