Posted 26 November 2013 by Andrew Gardner
Few industries are as important to Britain as tourism. The UK's fifth largest, it supports three million jobs, over 200,000 small and medium sized enterprises, and contributes £127 billion to the country's GDP each year according to a new report commissioned by Deloitte.
A significant portion of that comes from overseas visitors, in fact we have seen substantial growth ourselves in this market with 15% of our overall bookings so far in 2013 coming from overseas guests, an area we expect to continue to grow given our prime location in the south and south east of England.
According to Deloitte, tourism is set to grow 3.8% per annum - faster than manufacturing, construction and retail.
The current worth of £127 billion is expected to grow to £257 billion by 2025 representing 10% of UK GDP.
Tourism has supported three million jobs throughout the UK in 2013 (9.6% of UK employment).
It has accounted for one third in the net increase in UK jobs between 2010 and 2012 and is forecast to support 3.7 million jobs by 2025.
Inbound tourism is expected to grow from over £21 billion in 2013 to £57 billion by 2025. Inbound tourism is already one of Britain's top export industries and it's performance since the London 2012 Olympics is positive news for the future.