The total turnover of all British hospitality businesses is set to reach £100bn during 2018 –
an increase of £2bn on the 2017 figure of £98bn.
With total turnover of hospitality businesses registered at £92bn in 2016 and £86bn in 2015, the figures mean the industry has grown, on average, around 6 per cent each year.
The figures come from a study by Adia, which analysed data provided by the Office for National Statistics (ONS).
Adia – recruitment giant Adecco's online hospitality platform – looked at ONS data for companies listed under 'accommodation and food services activities’.
As well as estimating the industry's worth at £100bn, Adia’s analysis also shows that the number of people employed in hospitality now exceeds 2.3 million.
This represents an increase of 21 per cent compared to 2013, when the total amount of people working in the industry stood at 1.9 million.
“The hospitality sector makes a significant and important contribution to British economic output, equally, the 202,000 businesses operating in the industry play a valuable role as employers and job creators," said Ernesto Lamaina, Adia CEO.
“Our analysis indicates that the amount of people working in the sector has increased by over 409,000 in the last five years, which is testament to the health of the industry."
Source: Leisure Opportunites