A new research conducted by Deloitte and Oxford Economics analysis for VisitBritain predicts that tourism, with a 3.5% growth rate, will overtake the retailing, transport and communications, utilities and manufacturing sectors in the coming decade.
The present statistics revealed that tourism was currently Britain’s fifth largest industry, employing 2.6 million people and worth £115 billion. The study estimates that by 2020, an additional 250,000 jobs will be created in the sector.
It is also anticipates that inbound visitors will spend almost double, with the domestic spending rising from £72 billion in 2010 to £113 billion in 2020.
Chairman of VisitBritain, Christopher Rodrigues stated that the research reiterates the significance of tourism in the British economy. He added that overseas visitors alone contribute around £3 billion a year to the Treasury.
Rodrigues hoped that the research will add to the impetus that the London 2012 Olympic and Paralympic Games are expected to bring to UK tourism. Continuous growth would, however, depend on sustained investment in the sector, enhanced regulatory support and improved government policies.
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