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GDP figures highlight economic importance of hospitality

18 January 2021 by
GDP figures highlight economic importance of hospitality

Figures published by the Office for National Statistics highlight the economic importance of the hospitality sector and reinforce calls for it to be supported and central to the government's reopening plans, said UKHospitality.

Estimates for November show UK GDP falling by 2.6%, with hospitality, which was effectively closed in England during the month, accounting for just over one-third (0.9%) of the decline.

UKHospitality chief executive Kate Nicholls said: "This really hammers home how important our sector is to the economy. When we were open, albeit with restrictions, in the summer, our return to growth contributed to the economy growing. The figures highlight our power as an economic driver and show why we should be at the heart of plans to revitalise the economy.

"Hospitality must be prioritised once vaccines have been rolled out to the vulnerable and an exit strategy has been determined. We need to be supported properly if we are expected to power economic growth and spearhead the country's revival. The level of support has to reflect the hit that the sector has taken and ensure those hardest hit receive the proper help they need."

Photo: Shutterstock

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