'Bags of cash' to be spent by high-speed shoppers
Jun 3, 2009
Commuters attracted into the county by high-speed trains are set to boost the economy by spending their "bags of cash" in local towns.
Vince Lucas, commercial director of Southeastern Trains, said the new era of rail travel would bring more money to Kent, a county that now lagged behind the rest of the south east in economic terms.He said commuters from Maidstone and Sevenoaks, for example, injected an additional five per cent of income into the towns, while Canterbury derived almost no financial benefit from commuters because so few travelled to London from the city.
But that would change from December 13 with the launch of the new services.
With Canterbury being just under an hour from London, people who now commuted from North of London or even within London would consider relocating.
"Commuters are like little traders who get sent out and bring back bags of cash to the town to spend them," he told delegates at the Canterbury4Business spring conference. "There will be a rapid change in the number of people who want to commute from Canterbury."
He warned that an influx of commuters would put pressure on Canterbury's housing stock, and could even create a shortage of student accommodation because bedsits may be "converted back into big houses."
He also urged Canterbury to find more business space to meet demand from firms that want to move to the city because of the new trains. If not, that economic driver "may just pass by."
Not every town will benefit from the new trains. Maidstone, which years ago voted against being plugged into the high-speed service, is set to lose its London Cannon Street service when all services are switched to Victoria.
There will then be no journey times of less than an hour between the County Town and London.
Local businesses have joined campaigners to fight the decision but Southeastern says the service is little used.
Source: Kent Business
