The most central and commercial streets of the capitals take advantage of this pedestrian ‘impasse’ to prepare for the future. Westminster City Council will invest 150 million pounds to transform Oxford Street, one of the most important commercial areas of the British capital and where the main businesses are concentrated. The purpose of this transformation is to turn the street into a more walkable space and to recover visitor traffic.
In addition, to make the street a little more sustainable, the council plans to weave a transport network with zero emissions, reuse and give a facelift to existing buildings and give support to commerce, offices, restaurants and leisure activities located in the road, among other actions.
In a few weeks work will begin on the street to give more space to pedestrians, parks and cultural spaces. At the moment, the capital is still under tight restrictions to contain the third wave of the coronavirus.
As part of the plan, the Westminster City Council has approved the construction of a new 25-meter building next to Marble Arch with the aim of attracting some 200,000 visitors and generating income among businesses in the West End area, one of the main engines of the London economy.
Aftermath of the covid
Not only has Oxford Street been emptied in the last year: the surrounding neighborhood is also seeing more and more commercial premises for rent. The Centre for Retail Research He expects the first half of 2021 to be more challenging than all of last year, and he predicts more bankruptcies and layoffs in the coming months.
In this sense, some experts estimate that the aftermath of the pandemic will continue to impact the British economy for several years, and that tourism will not recover until the end of 2022 or 2023.
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