Hospitality is the main contributor to GDP recovery

The hospitality industry was one of the main contributors to the recovery of the UK’s gross domestic product (GDP), which is estimated to have grown for a fifth consecutive month in June by 1%, but remains 2.2% below its pre-pandemic level.

According to the Office for National Statistics, services continued to be the main contributor to GDP’s recovery, growing by 1.5% in June, and food and beverage activities were again the main contributor to the growth in consumer-facing services, growing by 10.1%, benefitting from the first full month of indoor dining for restaurants, cafés and pubs since restrictions were eased on 17 May.

Continued strong growth meant that the industry is now only 1.5% below its pre-pandemic level, and 9% above its August 2020 peak when the Eat Out to Help Out Scheme boosted consumer demand for bars and restaurants.

Photo: cktravels.com/Shutterstock.com