Travel and tourism to boost UK economy in 2012

by Janet Harmer, Friday 2nd March 2012 09:45

Jobs and economic growth in UK travel and tourism are set to outstrip the wider economy, according to a report released today by the World Travel & Tourism Council (WTTC).

With the industry predicted to grow by 1.3% in 2012 - over double the rate of growth in the wider economy - it will directly contribute £35.6b and almost 950,000 jobs to the British economy.

Indirectly, travel and tourism are forecast to contribute over £100b to the UK economy and generate 2.3 million jobs - or 1 in 13 of all jobs.

In 2011 the industry grew by 4.1% in the UK - or five times the rate of the economy as a whole. This year, it is expected that around 30 million people will visit the UK from overseas.

The UK figures provide a marked contrast to the European Union as a whole, where a tightening of consumer spending, uncertainty around the future of the Eurozone and the economies of Greece, Spain, Italy and Portugal and the impact of austerity measures kicking in will result in a 0.3% contraction of tourism.

David Scowsill, president and chief executive of WTTC, said: "At a time of significant economic hardship, the travel and tourism industry is helping to beat the recession by generating jobs and growth at a faster rate than the wider UK economy. 2012 is likely to be bolstered by the cheap pound, the continued trend for domestic holidays, and the extra bank holiday weekend for the Diamond Jubilee. The London Olympics are unlikely to have any significant effect."

Profiting from 2012 - making a clean sweep >>

World Travel & Tourism Council calls for debate on climate change >>

Global travel and tourism market set to rise to $13trillion over the next 10 years >>



By Janet Harmer


E-mail your comments to Janet Harmer here.

TabletalkIf you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs


Blogs on Catererandhotelkeeper.com

Catch up with more news and gossip on all Caterer's blogs

E-Newsletters


For the latest hospitality news, sign up for our E-newsletters

 


Featured video - for more, visit Caterer and Hotelkeeper’s YouTube channel >>

    Caterer and Hotel Keeper Jobs
    Most ReadLatest Articles
    Most ReadMost Viewed Articles
    Related Industry Resources
    Sign up to Caterer and Hotelkeeper
    Mobile Site
    Also on Caterer and HotelKeeper
    Blogs