Throughout the pandemic, tourism faced the brunt of lockdowns, with even local holiday destinations being off-limits.
Despite this big hit, the sector is forecast to grow at a rapid rate over the coming years. According to the World Travel & Tourism Council (WTTC), the UK’s travel and tourism sector should create almost 700,000 new jobs in the next ten years.
As the country recovers from the pandemic, tourism is set to be a frontrunner, with its proportion of GDP projected to reach new levels of £286 billion – equating to 10.1 per cent of total GDP.
How can tourism businesses sustain growth?
Whilst this projected growth comes as excellent news for the battered industry, businesses in the sector will need to implement a strategy to navigate the influx of demand.
In all circumstances, tourism businesses should have a plan to react to varying levels of demand.
For instance, with the upcoming Queen’s Platinum Jubilee and the extra bank holiday this year, many people may be opting for a staycation.
Businesses need to harness these opportunities when presented; however, they must take the necessary steps to accommodate this.
Relating to the Jubilee weekend, tourism businesses should plan for the possibility of needing to hire temporary staff to cope with this, as well as ensure they have sufficient stock levels.
In the long-term, UK-based tourism sectors will need to contend with competition from overseas holidays, especially as coronavirus restrictions are beginning to lift across countries.
For this, actions relating to marketing and pricing strategies will need to be considered.
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