Cornwall has been chosen as the venue of the G7 summit with new US president Joe Biden expected to attend an event which could bring a £50million windfall for the Duchy.

Prime Minister Boris Johnson will host the summit at the Cornish seaside resort of Carbis Bay, near St Ives, where he will urge of world leaders to unite in “building back better” from coronavirus.

President Biden is expected to attend the event starting on June 11, as well as the other G7 leaders from Canada, France, Germany, Italy, Japan and the EU.

The Prime Minister has also invited Australia, India and South Korea to attend as guests, as he seeks to promote a green recovery from the crisis.

The Carbis Bay Estate has been chosen as venue for the 2021 G7 summit

“Coronavirus is doubtless the most destructive force we have seen for generations and the greatest test of the modern world order we have experienced,” Mr Johnson said.

“It is only right that we approach the challenge of building back better by uniting with a spirit of openness to create a better future.”

It will be the first time the summit has met in person in nearly two years, with the US moving the 46th online because of the pandemic.

The last time the UK hosted the summit, in 2013, the venue was a resort in County Fermanagh, Northern Ireland. Gleneagles in Scotland, London and Birmingham have also in the past played hosts.

The Carbis Bay Estate will be the main focus of the summit, but the seaside village will be supported by neighbouring St Ives and other towns across the region. Mr Johnson said that Cornwall “is the perfect location for such a crucial summit”.

“Two hundred years ago Cornwall’s tin and copper mines were at the heart of the UK’s industrial revolution and this summer Cornwall will again be the nucleus of great global change and advancement,” he said.

With so much of the world’s power expected to be based in the seaside resort for the weekend, the summit will require a major security operation.

Devon and Cornwall Police’s Chief Constable Shaun Sawyer said: “We have been preparing for this event for several months, including speaking with colleagues who have managed similar events, so we can ensure that we continue to effectively serve our local communities in the run up to, during and after the event.”

Mark Duddridge, Chair of the Cornwall & Isles of Scilly Local Enterprise Partnership

Mark Duddridge, chair of the Cornwall and Isles of Scilly Local Enterprise Partnership, said: “Cornwall’s economy is quickly evolving into one of huge significance to the challenges of the time most notably in the delivery of clean energy from our unique geology and location.

“Underpinned by our digital connectivity and creative expertise our traditional industries are developing their offer to deliver more to their customers whilst supporting the recovery of our climate and ecology.

“We welcome the opportunity to showcasing the new Cornwall to visitors from around the World and sharing our excitement for the changes that are now happening around us.”

Tourism organisation Visit Cornwall estimates a total economic impact of the Summit for the county of £50million, including both the immediate benefits of the Summit and related events, and projected tourism growth over the next five years.

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Malcolm Bell, chief executive of Visit Cornwall, said: “Cornwall has been voted the best holiday region in the UK for 10 out of the last 11 years in the British Travel Award but is little known to many countries around the world.

“The G7 leaders’ summit will shine a spotlight on our very special place and the worldwide exposure is promotion we could never buy.

“It will showcase the beauty of Cornwall and provide an opportunity to highlight our heritage, culture and the connections to each country, which will help drive increased numbers of international visitors to Cornwall over the next decade.”

Julian German, leader of Cornwall Council, said: “This is a fantastic opportunity to showcase the best of Cornwall and the UK on the world stage, and to build our strength and prosperity at home.

“For those reasons we are determined that this event delivers a lasting legacy for our residents, inspires our young people and shows how we can play our part in bringing the world together after the unprecedented challenges of the pandemic – and bringing together all parts of the UK together, leaving no-one and nowhere behind.

“We want a lasting legacy that maximises inward investment, translating our moment on the global stage into trade. A legacy that helps Cornwall bounce forward and make its full contribution to the country’s ambitions in areas like space and satellite, floating offshore wind and other sources of clean energy, and globally significant geo-resources including lithium to power our future.”