Ride the wave of tourism success
The UK holiday property market has performed very strongly in recent years and the growth looks set to continue.
- Research by Mintel found that the good summer weather over the past few years has seen an increase of 4.7% in domestic holidays. This has equated to a 6.2% increase in tourism expenditure.
- The value of Sterling has dropped by up to 20% since the Brexit vote. Brits get less value by going abroad and are seeing the obvious monetary advantages of holidaying in the UK.
- Shorter breaks with less travel time are now more popular. Accommodation operators Holiday Cottages reported a 74% increase in short break stays.
- According to Visit Britain, inbound tourism grew by 1.7% in 2019 with spending increasing by 9.1% to £25.0bn. Forecasts for 2020
predict visitor growth of 2.9% and spend by 6.6%
- A +5.5% increase in the total number of holiday lets available. It’s estimated that there are now approximately 165,000 HPL in the UK
UK Tourism & Staycation economy
- Tourism market size £137b forecast growth 87.5% to £257b by 2025 (Deloitte ONS)
- International tourist spend grew buy 7.9% in 2016 (World Travel & Tourism Council)
- Last year domestic trips grew 5.6%, offshore trips grew by 2.5%
(World Travel & Tourism Council) - 40% of UK adults expect to make multiple domestic trips in 2019 (Voucher Codes)
- (36%) of Brits will opt for staycations over foreign travel in 2019 as a result of the uncertainty caused by Brexit (Voucher Codes)
- Over half the population (56%) fear holidays will be more expensive as a result of Brexit (Sykes)
- (47%) of Brits believe Brexit will make trips abroad more difficult (Sykes)
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