Meaning of “concession” in the English Dictionary

"concession" in British English

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uk /kənˈseʃ.ən/ us /kənˈseʃ.ən/

concession noun (SOMETHING ALLOWED)

C2 [ C or U ] something that is allowed or given up, often in order to end a disagreement, or the act of allowing or giving this:

Both sides involved in the conflict made some concessions in yesterday's talks.
He stated firmly that no concessions will be made to the terrorists.
See also

[ U ] the act of admitting defeat:

The former president's concession came even before all the votes had been counted.
a concession speech

More examples

  • Some politicians fear that agreeing to the concession would set a dangerous precedent.
  • She didn't make any concessions to the fact that we were tired.
  • His only concession was that we were allowed to sit down during the speeches.
  • The kidnappers have made significant concessions to their demands.
  • We will not make any concessions to people found to be in breach of the law.

(Definition of “concession” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"concession" in American English

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us /kənˈseʃ·ən/

concession noun (SOMETHING GIVEN UP)

[ C/U ] something allowed or given up, often in order to end a disagreement, or the act of allowing or giving up something:

[ C ] Both sides involved in the talks made concessions.

[ C/U ] Concession can also be the act of admitting defeat:

[ U ] a concession speech

concession noun (SALES PLACE)

[ C ] permission to sell something, esp. in part of a store owned by someone else, or a business that sells something:

A lot of movie theater profits come from their candy concessions.

(Definition of “concession” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"concession" in Business English

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uk /kənˈseʃən/ us

[ C or U ] something that you agree to give someone or allow them to do, especially in order to end an argument or disagreement:

concession to sb As a concession to environmental groups, the energy giant agreed to scale down its coal plant expansion plans.
demand/seek concessions The administration has demanded concessions from auto workers as part of the "viability plan" it is preparing.
offer/make concessions We would be prepared to make concessions in order to reach an agreement.
See also

[ C ] COMMERCE a small business that is allowed to sell goods, food, or services on property owned by someone else, for example, inside an airport or a large store:

open/operate/run a concession The furniture and homeware retailer has recently opened its first concession within a garden centre.
Fans were stocking up on hamburgers and hotdogs at the concession stand.
airport/hotel/stadium concessions

[ C ] COMMERCE official permission to carry out a particular type of business, or to own or do work on a particular piece of property or land, given by a government or company:

The government plans to sell a 50-year concession to operate the southeastern rail line.
award/grant a concession We are delighted to have been awarded the concession for the development of the airport.
The mining company was granted a concession agreement to mine and market diamonds.

[ C ] mainly UK a reduction for particular groups of people in the amount of money that has to be paid for something:

give/offer concessions Many railways offer fare concessions for passengers with disabilities.
Tax concessions will be made available to non-profit organizations.

[ C ] FINANCE, STOCK MARKET the amount of money that an underwriter receives as payment when new shares are sold to the public for the first time:

Investment bankers compensate members of the selling syndicate through payment of a selling concession, which is a type of sales commission.

(Definition of “concession” from the Cambridge Business English Dictionary © Cambridge University Press)

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