When the London Tonight team (all two of us) arrived in Cannes this morning we thought for a moment we'd come to the wrong place.
We're here to report on the world's biggest property show but this place looks more like the world's biggest boat show. The venue, the Palais Des Festivals is on the edge of the harbour and every inch of quayside is occupied by the most OTT floating gin palaces you've ever seen. And they're not here sheltering from a Winter storm - or even an economic one! Many of the luxury yachts have been chartered to act as hospitality suites by exhibitors. I counted three being used by local authorities, though not from London I should add.
Most of the attendees from the capital are in a less-than glam tent. Still, even that's not cheap and it's hard to escape the impression that there are some people here who don't know there's a recession on. The truth however is that most people at Mipim are only too well aware that business is seriously down this year. The sun is shining and the wine is flowing but this year's conference will probably end with a bigger hangover than usual. Some of those deals which were so easily tied up at Cannes conferences in the past simpply aren't there for the taking any more. The best advice I can offer is get out of property and invest in a luxury yacht! Bon soir.
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