With more Britons opting to holiday in the UK, businesses in the tourism sector across the country have seen a 30% increase in turnover to £50bn since 2012. The study by Barclays Business found that the average spend of the 70 per cent of adults who have been on, or are planning, to holiday in the UK has increased by 6 per cent in 12 months, with turnover for businesses in the accommodation and food services markets rising by 6.4 per cent on 2015 to £50bn, a 30 per cent increase since 2012.
London has seen the greatest increase in the number of new businesses in the tourism sector, followed by the South East and the North West. The South West is the most popular destination of 2016 for UK holidaymakers.
Tourism is one the fastest growing sectors in the UK in employment terms, with tourism businesses accounting for 10 per cent of all businesses in the UK, according to Tourism Alliance – UK Tourism Statistics 2016, which positions the UK as the sixth largest international tourism destination ranked by visitor expenditure.
With a weaker pound, small businesses are likely to see even more Britons opting to holiday on their own shores, plus a further increase in overseas visitors to the UK.
At Beavis Morgan, we have extensive experience of providing specialist advice and planning to small and medium sized businesses and we are on hand to assist you remain profitable and increase your net worth. We also have extensive experience of working with clients in the hospitality and leisure/tourism sector and our professionals are acknowledged experts in issues affecting organisations operating in this area.
If you have a business idea or would like to discuss how we can help you improve business performance, contact Matthew Burge.
