Tuesday, January 21, 2025 The World Travel & Tourism Council (WTTC) has issued a stark warning to the UK Government, highlighting the risk of stagnation and long-term decline for the country’s thriving Travel & Tourism sector. On the eve of the UK Government’s inaugural Visitor Economy Advisory Council, WTTC unveiled alarming data revealing that £60 billion in tourism revenue could be at risk over the next decade if decisive action is not taken. While short-term stability is forecasted, the sector’s long-term outlook is bleak, as the UK lags behind European competitors.
The UK’s Travel & Tourism industry plays a critical role in the economy, directly employing as many people as the NHS and contributing £280 billion (10.3% of GDP) in 2024. It supports over 4.
1 million jobs (11.3% of total employment) and generates approximately £100 billion annually in tax revenues. Despite this, successive governments have demonstrated limited interest in fostering the sector’s growth.
Globally, Travel & Tourism is projected to grow at an annual rate of 3.7% over the next decade, outpacing the global economy’s 2.4% growth rate.
However, the UK is set to experience one of the slowest growth rates in international overnight arrivals among major European destinations. Countries like Spain, Germany, and Italy have embedded Travel & Tourism into their core government policies, driving significant growth and competitiveness. Conversely, the UK is burdened by high VAT rates, increased.
