Hospitality contributes £93billion to UK economy

Wednesday, June 14, 2023

Britain's hospitality sector could contribute £500,000 billion boost to the economy and create 500.000 new jobs by 2027, if the economic and political conditions are right, a report by UKHospitality has said.

The report, presented at the UKH Summer Conference today (Wednesday 14 June) also shows the number of people working in the sector had risen to 3.5 million people making the hospitality sector the third largest employer in the country.

The study, produced by Ignite Economics, found that hospitality has added £20billion to the economy in the last six years, with nearly £92billion now being made available to holidaymakers.

In 2022 alone the hospitality sector funnelled £54 billion in tax revenue back into the Treasury, despite the challenges following the pandemic that have been so crippling.

The report was published as UKHospitality is preparing for a UK-wide conference in London today (14 June), with Steve Cassidy, chief executive of Hilton UK & Ireland, chairing the trade body.