UK outbound travel worth £28.3 billion annually
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ABTA has published a new report that estimates the outbound travel sector to be worth £28.3 billion to the UK economy annually.
The study, carried out by the Centre for Economics Business Research (Cebr) for ABTA found this figure was equivalent to 1.8% of the UK’s GDP. This includes a direct contribution of £11.7 billion, which is equivalent to 0.8% of UK GDP.
Outbound travel also supports 214,000 jobs directly and 435,000 in the wider economy. 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.
The report ‘Driving Growth’, which launched at ABTA’s annual Travel Matters conference staged in London last week, seeks to underline the value of outbound tourism and to challenge the so-called ‘tourism deficit’, that is the difference in spend by UK residents abroad, and foreign residents’ 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.
‘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 Cebr projects in the next five years.
Mark Tanzer, ABTA chief executive 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
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