Eurostar growth needs ‘bold vision’ as research reveals £2bn contribution

Eurostar chief executive Gwendoline Cazenave has called for a “bold vision” in the UK to support the company’s investment in expansion.

Her call came as independent research published on Thursday (July 9) found Eurostar contributes £2 billion to the UK economy and supports about 23,000 jobs across the country each year.

Furthermore, the figures are set to surge by more than 40% and 70% respectively over the next decade as amid “a new era of expansion”, said Eurostar.

The company is investing £1.7 billion in a fleet of new double-decker Celestia trains, with the first due to be in service in 2031.

The expanded Eurostar fleet will enable new direct services from London to Frankfurt and Geneva.

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Cazenave said: “This research shows what Eurostar already delivers – and why international rail is worth investing in for the future.

“The UK now needs a bold vision to match the private investment on the table – more depot capacity, a bold expansion of St Pancras and a seamless border.

“Now is the time to act to ensure Britain plays a leading role in Europe’s high-speed rail future.”

Entitled Fast track to growth, the report was produced by Public First and also documents Eurostar’s wider impact on UK competitiveness.

It said the convenience of international rail generates an estimated 500,000 additional tourist visits to the UK each year, contributing £370 million in incremental spending on hotels, restaurants and attractions.

Evidence in the report also shows travellers switching from plane to train for journeys to Paris, Amsterdam, Brussels and beyond.

It found the new direct routes from London to Geneva and Frankfurt could free up to 20 aviation slot pairs per day in London airports as short-haul flights are replaced by trains.