Leeds Council drops out of MIPIM property conference in Cannes citing 'financial challenges'

The local authority confirmed to The Yorkshire Post that it will not be attending next year’s event in March due to the “current economic climate and the financial challenges we are faced with”.

The council did not clarify how much money it expects to save from the decision. It was in attendance at the 2023 event, where it hosted an event on the Leeds Innovation Partnership.

When questioned about its spending in 2022 by the Daily Mail last year, it also did not confirm a figure about its spending for that event and has separately refused a Freedom of Information request on the same topic. But in 2012, it was revealed that £38,400 was spent on sending officials from the council and running a conference stand at the event.

Attendance by cash-strapped councils at the four-day event on the French Rivera has been an ongoing subject of controversy, with critics describing it as “a taxpayer-funded jolly”. But supporters argue the deals, contacts and networking with global investors that come out of the conference are worth millions of pounds to local economies.

The decision not to attend the 2024 event comes as Leeds prepares to host The UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in its city in May.

The event, which attracts thousands of delegates and brings in millions to the local economy, has been hosted in Leeds since 2022. Last month it was announced a deal had been secured with the event’s owners to retain it in the city for the “foreseeable future” following competition from Birmingham, Manchester and Liverpool to take over as the venue for it.

A Leeds City Council spokeswoman said: “The council have taken the decision to not attend MIPIM 2024.

“Whilst we recognise the significance of MIPIM as a platform for promoting our city, the current economic climate and the financial challenges we are faced with, means careful consideration needs to be taken on our financial commitments.

“Ensuring we promote Leeds on an international stage is imperative as part of our continued success on our inward investment agenda, and therefore growing and building on strengths within our economy.

"We continue to engage with stakeholders, investors, and partners, and ensure that we work as Team Leeds to spread the positive messaging about the city across the globe through not just the voice of the council but our wide and engaged network of businesses in the city.”

The spokesperson said the council will now be focusing efforts on UKREiiF.

She said: “It is thanks to the dedication of Team Leeds, and our partners that UKREiiF has been secured for the foreseeable future here in Leeds. Our intention is to now put all our energies into maximising the opportunity that hosting UKREiiF here in Leeds brings.”