The Travel Industry Continues To Buck The Economic Trend

Economic growth in travel and tourism is forecast to outstrip the wider economy, making the U K increasingly reliant on the sector, research has shown.

The industry is expected to grow by 1.3% this year- more than double the rate of growth in the wider economy as predicted by the International Monetary Fund.

The rate of growth means the industry is expected to directly contribute £35.6 billion to the British economy and account for 950,000 jobs.

This contrasts starkly with the rest of the EU as a whole, where uncertainty around the Eurozone and the impact of austerity measures means that the World Travel & Tourism Council predict a 0.3 contraction in the travel sector.

The John Proctor Travel View

Once again it seems that for the UK public, one of their main priorities each year is to have a holiday. Whether driven by weather, culture or the British desire to explore new destinations holidays remain as popular as ever, even during harsh economic times.

It seems that the public are quite happy to defer a new kitchen, car or other non-essential luxuries to continue to take something that remains very important to them – that all important holiday. Long may it continue!

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