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Travel industry contributes billions to economy, says new report
Outbound travel contributes £28.3 billion to the UK economy, representing 1.8% of GDP, according to a new report published today.
The study, carried out by the Centre for Economics Business Research for ABTA, said the travel industry made a direct contributed of £11.7 billion, which is equivalent to 0.8% of GDP.
Outbound travel directly supports 214,000 jobs and 435,000 in the wider economy, according to the report.
"This represents a greater UK employment contribution than the country’s postal and courier industries, and those involved in the manufacture of food products and electrical equipment," it said.
The report ‘Driving Growth’, which will be launched at ABTA’s annual Travel Matters conference today, seeks to underline the value of outbound tourism and to challenge the so-called ‘tourism deficit’, which is the difference between what Britons spend abroad and foreigners spend in the UK.
"Indeed, the report shows that holidaymakers spend in excess of £34 billion in the UK before they go abroad, highlighting the important economic contribution outbound tourism makes to the UK economy," said ABTA.
"Driving Growth also demonstrates the enormous potential that outbound travel possesses, with the sector in prime position to capitalise on economic recovery and the growth in household disposable income that the Centre of Economics Business Research projects in the next five years."
ABTA chief executive Mark Tanzer said: "Outbound travel is a key part of the UK’s vibrant tourism mix and has enormous potential for growth.
"With a new Government in place, and the Budget just around the corner, important decisions are about to be made. The message from Travel Matters will be clear: MPs and Government must ensure that we have in place the right policy and tax framework to allow the UK’s tourism mix to reach its full potential in the years ahead."
The report is available online at www.abta.com/drivinggrowth .
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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