As two thirds of UK workers are yet to return to their offices, consumer and location intelligence specialise CACI has highlighted the devastating economic impact working from home is set to have on F+B and retail operators in London specifically.

While London accounts for 18% of all retail and F+B spend in the UK, 33% of worker spend in the country is from people working in London locations, equating to over £3 billion annually.

Six of the top ten locations for worker spend in the UK are also in the capital, as are more than half of the top 50 worker spend locations.

According to the research, the London locations in the top 50 are also more heavily reliant on worker spend than their counterparts across the country.

The average worker spend per location outside London is £64 million, or 24% of total spend, compared to £73 million (41%) in the capital.

“Our analysis quantifies the value of workers to the capital and the detrimental impact working from home is having on London’s economy,” said Alex McCulloch, director of CACI. “While retail sales are on the increase nationally, the UK’s longstanding retail and F&B powerhouse is lagging behind by some margin.

“Without a significant return to offices in the capital, operators and landlords alike face an uncertain future that will have a detrimental effect on the UK as a whole.”

“CACI’s latest analysis brings to life just how profound the impact is from the lack of worker spend in our cities, and in particular London,” added New West End Company CEO Jace Tyrrell.

“It is crucial we support getting our office workers back safely, but en masse. While the Covid-19 crisis has changed how the West End operates, it does not mean we should not be operating at all.”