THE LEADING PUBLICATION FOR THE HOSPITALITY SECTOR & LICENSED TRADE Issue 165
Hospitality Can Deliver £29 Billion Economic Boost, With Right Support www.CLHNews.co.uk
The hospitality sector can deliver a massive boost to the UK economy according to a report. A new report reveals that in the past six years hospitality has increased its annual economic contribution by £20 billion to £93 billion. It also shows that employment in the sector has risen to 3.5 million, making hospitality the third largest employer in the country.
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The report, produced by Ignite Economics, details how hospitality operates at the centre of the economy. In 2022 alone – and in spite of post-pandemic challenges still stifling growth – hospitality contributed £54 billion in tax receipts to the Treasury, generated £20 billion worth of exports and £7 billion in business investment.
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