New research by Barclays Business, reported by Big Hospitality, points to a bumper year for the UK tourism sector with an 8.3 per cent increase in six-month turnover for SME hospitality businesses compared to the first six months of 2016.
The number of new hospitality services being opened across the UK has also increased significantly, according to the Office of National Statistics, with 25,000 new hospitality services being opened across the country last year.
The two main contributing factors to the recent growth of UK tourism have been Brexit and the weak pound. This has led to a significant increase in the number of staycations combined with a similar increase in overseas visitors coming to the UK.
Seventy-five per cent of adults in the UK have been on, or are planning to go on a UK staycation; an increase from 70 per cent last year.
The weak pound has seen the UK become a more attractive holiday destination for overseas tourists with 3.5 million visitors in June of this year – a 7 per cent increase from the same period last year. With an average budget of £3,443, overseas visitors spent a total of £2.2bn in June alone, up by 2% since last year.
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