New research on the economic impact on the UK of international travel has been released by UKinbound and ABTA.
It highlights how international travel supports the UK economy by promoting jobs, taxes paid, and economic contributions to HM Treasury.
“International Travel: Powering the UK Economy” examines the importance of both domestic and international travel to the UK. The report is based on research by York Aviation, an eminent consultant.
As per the report, UK International Travel annually:
The research examines the industry’s growth prospects in addition to describing the sector’s contributions. According to the report, with the right policy framework, inbound and outbound travel could outperform the average growth of the UK economy over the next five years. By 2027, inbound travel is expected to grow by 20% and outbound travel by 15 %, compared to the 10.3% predicted for the wider UK Economy.
The goal of ABTA and UKinbound’s joint report was to show the government and lawmakers how interdependent and intertwined the outbound and inbound sectors are, despite the fact that they serve different markets and clients. Both businesses utilize the same physical infrastructure, including ports and airports. Moreover, the two-way traffic flows they offer help to ensure the continued profitability of crucial rail, sea, and air routes that maintain the UK’s global connectedness.
The study, according to the trade organizations, comes at a crucial moment as Rishi Sunak forms his new government and Chancellor Jeremy Hunt gets ready to deliver his Autumn Statement on Nov 17th. The groups are pleading with the government to acknowledge the significant economic impact that international travel has on the UK and how crucial it will be in fostering the country’s overall economic recovery and progress.
The research is now also accessible at the constituency level for the first time. This allows ABTA and UKinbound Members as well as the larger industry to obtain information on the impact travel has on their local economies and communities. The report’s research, which can be viewed in full on ABTA’s website, is the most thorough and complete analysis in this field to date.
The study will be distributed by ABTA and UKinbound to government ministers, officials, lawmakers, and representatives of the devolved administrations. Other members of the industry who are willing to share the report will also get access to the template materials for sharing the report with local MPs and representatives.
ABTA’s Chief Executive, Mark Tanzer said, “ABTA has long argued that travel is a powerful force for good in the world, and this report shows very clearly that is as true here in the UK as in destinations around the globe. At a time when the industry is experiencing serious challenges, with rising energy costs and consumers facing a cost-of-living squeeze, it is vital that policymakers recognize the critical role that international travel plays in the UK economy. This is especially true for the outbound sector, which is too often seen in a negative light, but which this report shows clearly remains a vital employer and a crucial economic driver for communities across the UK.”
And UKinbound’s Chief Executive, Joss Croft stated, “We are delighted to be launching this new data alongside ABTA, which not only highlights the value and importance of international tourism but also the growth opportunity it presents for the UK economy. The inbound and outbound tourism industries have a symbiotic relationship and looking forward, it is critical that Government implement policies and funding that support the recovery and growth of businesses across the UK’s international travel sector, which supports hundreds of thousands of jobs across all four corners of the country.”
On December 6, ABTA will take the matter to its Travel Matters conference to discuss the current policy and political landscape. For full details and registration, you can visit here.