The contribution to the UK economy from outbound travel has increased by more than a third since 2014 and Brits actually spend more before they go.
New figures released in a report by ABTA take account of direct spend on travel services and holidays, as well as a range of associated products and services such as duty free purchases, cameras and sun tan lotion.
According to ABTA’s new report ‘Driving Growth – The economic value of outbound travel’, the overall contribution to the UK economy from outbound travel now stands at £37.1 billion.
This is up 36% from £27.1 billion in 2014 and represents 1.8% of GDP.
The analysis found travellers now spend more in the UK before they travel than they do while abroad.
UK travellers spent £45.7 billion in 2017, compared to £44.8 billion overseas, an increase of almost £10 billion since 2014.
The revenue generated from specific travel services, such as flights, and package holidays, is £15.9 billion and 0.8% of GDP. This has increased from £11.7 billion in 2014.
ABTA chief executive Mark Tanzer said: "Too often the contribution of the UK outbound travel industry is overlooked in favour of a myth that overseas travel creates a ‘tourism deficit’ with money going overseas which could be spent in the UK.
"The evidence is clear that this is not the case – the benefits of the outbound sector are being felt by the wider economy in terms of jobs, support for other businesses and tax contributions to the Treasury. In order to continue to grow and thrive, government needs to make sure the right tax and policy framework is in place."
