Hospitality and leisure expected to drive economy over next decade

22 August 2011 by
Hospitality and leisure expected to drive economy over next decade

Hospitality and leisure is expected to be a key driver of economic growth in the UK over the next decade, according to new research released today.

In its Business in 2021 report, Barclays Corporate said it expected the hospitality and leisure sector to drive the economy across all areas of the country.

Of business leaders surveyed for the report, three-quarters in all but two regions of the country cited the hospitality and leisure industry as a key driver to fuelling economic growth in their region, including 95% of those in Scotland.

Over half of hospitality and leisure businesses (52%) themselves expect the UK to see a steady growth over the next 10 years, although a significant 39% expect to see zero or negative growth.

Mike Saul, head of hospitality and leisure at Barclays Corporate, commented: "It is clear that the majority of the UK's hospitality and leisure sector believes in the fundamental strength of the UK as a place to do business, and this underlines the temporary nature of the challenges we are currently experiencing.

"To see the majority of businesses anticipating steady and sustained economic growth over the next decade should also be welcome news for a Government that is focused on developing a growth strategy. The industry sees itself playing an important role in this growth, and clearly the boost from next year's Olympics, and its ongoing legacy, will play a major part in this."

Sign up to Caterer's e-petition to cut VAT for hospitality to 5% >>

Consumer spending in pubs and restaurants up 1% in July >>

Hotel and licensed trade insolvencies fall… but it may just be a ‘blip' >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to jobs

Looking for a new job? Find your next job here with jobs

Blogs on ]( Catch up with more news and gossip on all Caterer's blogs
[E-newsletters]([ For the latest hospitality news, sign up for our E-newsletters
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking