SPENDING: TD)ǝ G>ǝPG T¡R)
lŭśǝƤƢƤƥǝËİËĨƉšĒšǝĺĈǝŨďóǝĨËŨóšŨǝlƗçóǝ ĈĺśǝcËŨĒĺİËĨǝSŨËŨĒšŨĒçšǝíËŨËǝĺİǝŨďóǝ¡Xǝ ŨśËƂóĨǝĒİíŭšŨśƉǝËİíǝGTǝóƈŘóİíĒŨŭśóǝďËšǝ śóƂóËĨóíǝŨďóǝçŭśśóİŨǝšŨËŨóǝĺĈǝŘĨËƉƿ The UK economy has faced a lot of
uncertainty over the past 12 months, including a general election, new ĉĺƂóśİįóİŨƺǝŨďśóËŨǝĺĈǝƛšçËĨǝŨĒĉďŨóİĒİĉǝ in the Autumn Budget and changeable ĒİƜËŨĒĺİǝśËŨóšƿǝGİƜËŨĒĺİǝśËŨóšǝËƂóśËĉóíǝ ƩƿƥȎǝĒİǝƤƢƤƥǝæŭŨǝƃóśóǝËšǝďĒĉďǝËšǝƣƢƿƦȎǝ ËŨǝĺİóǝŘĺĒİŨƿǝTďËİĥĈŭĨĨƉƺǝśËŨóšǝďËƂóǝĈËĨĨóİǝ ŨďĒšǝƉóËśǝËİíǝİĺƃǝšĒŨǝËŨǝƣƿƩȎǝǍËŨǝŨĒįóǝĺĈǝ ŘŭæĨĒçËŨĒĺİǎƿǝ İíǝËĨŨďĺŭĉďǝ¡Xǝ>#Pǝ æËśóĨƉǝĉśóƃǝĒİǝƤƢƤƥƺǝŨśËƂóĨǝóįŘĨĺƉįóİŨǝ ďĒŨǝĒŨšǝďĒĉďóšŨǝĨóƂóĨǝšĒİçóǝƤƢƣƫƿ óĈĺśóǝƃóǝĨĺĺĥǝĒİǝįĺśóǝíóŨËĒĨǝËŨǝŨďóǝ
íËŨËǝśóĨËŨóíǝŨĺǝGTǝšŘóİíǝĈĺśǝóËçďǝŨśËƂóĨǝ šŭæšóçŨĺśƺǝĒŨǛšǝƃĺśŨďǝŨËĥĒİĉǝËǝæśĒóĈǝĨĺĺĥǝ at traveller numbers, revenues and óįŘĨĺƉįóİŨǝĨóƂóĨšƿ
DEMAND GROWS
The resilience of the travel sector was illustrated last year by the sheer volume ĺĈǝƜĒĉďŨǝËİíǝƃËŨóśǝŘËššóİĉóśǝİŭįæóśšƿ ǝśóŘĺśŨóíǝŨďËŨǝ
GİǝƤƢƤƥƺǝŨďóǝ
Airport Terminal passenger numbers hit ƤƩƤǝįĒĨĨĒĺİǝǐǝŭŘǝƤƥȎǝĺİǝƤƢƤƤǛšǝƛĉŭśóǝ æŭŨǝšŨĒĨĨǝƤƦǝįĒĨĨĒĺİǝĺƖǝƤƢƣƫǛšǝŨĺŨËĨƿ TďóǝĉśĺƃĒİĉǝĨĒİĥǝæóŨƃóóİǝ Ēśǝ
PËššóİĉóśǝİŭįæóśšǝËİíǝŨŭśİĺƂóśǝƛĉŭśóšǝ for Travel Agents and Tour Operators çĺİŨĒİŭóšǝĒİŨĺǝƤƢƤƦƿǝ Travel Agents and Tour Operators
ŨŭśİĺƂóśǝśóËçďóíǝdzƦƦǝæĒĨĨĒĺİǝĒİǝƤƢƤƥƺǝ śóŘśóšóİŨĒİĉǝËǝƣƨȎǝĉśĺƃŨďǝĺİǝŨĺŘǝĺĈǝŨďóǝ
ƤƧƨȎǝĉśĺƃŨďǝŨďóǝƉóËśǝæóĈĺśóƿǝ TďĒšǝçĺįæĒİóíǝśóƂóİŭóǝƛĉŭśóǝĈĺśǝŨďóǝ
ŨƃĺǝšŭæšóçŨĺśšǝďËšǝİĺƃǝçĨĒįæóíǝŨĺǝƤƢƣƪǝ ËİíǝƤƢƣƫǝŨŭśİĺƂóśǝĨóƂóĨšƿ TďóǝóƖóçŨǝĺĈǝĒİƜËŨĒĺİǝĒšǝŨďĺŭĉďŨǝŨĺǝæóǝ
Figure 1a: TRAVEL AGENTS AND OPERATORS TURNOVER, JANUARY-MAY 2024
dzƦbn
dzƥƿƧbn dzƥbn
dzƤƿƧbn £2bn
dzƣƿƧbn £1bn
dzƧƢƢm
Figure 1b: AIR PASSENGER NUMBERS, JANUARY-MAY 2024
ƥƢm 25m ƤƢm 15m
ƣƢm 5m
the reason behind the slower recovery in ŘËššóİĉóśǝİŭįæóśšǝĒİǝƤƢƤƤǝËİíǝƤƢƤƥǝ when compared with the corresponding ŨŭśİĺƂóśǝƛĉŭśóšƿ Air Terminal passenger monthly
numbers have progressed steadily so far ĒİǝƤƢƤƦƿǝ ƉǝŨďóǝóİíǝĺĈǝƤƢƤƦƺǝĒŨǛšǝŨďĺŭĉďŨǝ that the target of pre-pandemic İŭįæóśšǝšďĺŭĨíǝƛİËĨĨƉǝæóǝËçďĒóƂóíƿǝ ¡Xǝ¸ËŨóśǝPËššóİĉóśǝİŭįæóśšǝĨËšŨǝ
year totalled the highest they have been šĒİçóǝƤƢƣƫǝƃĒŨďǝƧƨǝįĒĨĨĒĺİǝËİíǝËǝƪƿƧȎǝ ŭŘŨĒçĥǝĺİǝŨďóǝŘśĒĺśǝƉóËśǛšǝİŭįæóśšƺǝæŭŨǝ the smallest employer of all the šŭæšóçŨĺśšǝĒšǝšŨĒĨĨǝƣƢǝįĒĨĨĒĺİǝËƃËƉǝĈśĺįǝ ŘËššóİĉóśǝĨóƂóĨšǝóİĢĺƉóíǝĒİǝƤƢƣƦƿ Hotels had an average pre-pandemic
ËİİŭËĨǝĉśĺƃŨďǝĺĈǝƦȎƿǝDĺƃóƂóśƺǝśóƂóİŭóšǝ ĒİǝƤƢƤƤǝšŨËśŨóíǝóƈçóóíĒİĉǝŘśóǑ ŘËİíóįĒçǝƛĉŭśóšƺǝƃĒŨďǝĒİƜËŨĒĺİǝËĉËĒİǝ ŨďĺŭĉďŨǝŨĺǝďËƂóǝŘĨËƉóíǝĒŨšǝŘËśŨƿǝ As with last year’s report, the Hotels
sector has continued to spend the most ŨĺǝíËŨóǝĺİǝGTǝËİíǝįËİËĉóíǝŨĺǝĒİçśóËšóǝ ĒŨšǝóįŘĨĺƉįóİŨǝśËŨóšǝĺİçóǝįĺśóǝæƉǝƦƿƫȎƿǝ TŭśİĺƂóśǝĒİǝƤƢƤƥǝďĒŨǝdzƤƦǝæĒĨĨĒĺİƿ
TR ·)ZǝVl S UK employment levels were įËśĥóíĨƉǝśĺæŭšŨǝĒİǝƤƢƤƥǝËšǝŨďóǝ number of people with jobs rose æƉǝƢƿƩȎǝĺİǝŨďóǝŘśóƂĒĺŭšǝƉóËśƿ The travel sector massively
ĺŭŨŘËçóíǝŨďóǝİËŨĒĺİËĨǝĒİçśóËšóƿǝ Figures failed to reach pre-pandemic šŨËƗİĉǝšĒƒóšǝæŭŨǝíĒíǝóƈŘóśĒóİçóǝËǝƩȎǝ increase year on year, increasing by ƥƨƺƢƢƢǝŨĺǝƧƦƫƺƢƢƢǝǐǝËİíǝçĨĺšĒİĉǝĒİǝĺİǝ ŨďóǝśóçĺśíǝďĒĉďǝĺĈǝƧƨƩƺƢƢƢǝĒİǝƤƢƣƫƿ TďóǝPËššóİĉóśǝ¸ËŨóśǝTśËİšŘĺśŨǝ
šóçŨĺśǝƃËšǝËİǝóƈçóŘŨĒĺİƺǝƃĒŨďǝšŨËƗİĉǝ ĨóƂóĨšǝíĺƃİǝƩȎǝĒİǝƤƢƤƥǝËĈŨóśǝśĒšĒİĉǝƧȎǝ ĒİǝƤƢƤƤƿǝTďĒšǝƃËšǝĒİǝšďËśŘǝçĺİŨśËšŨǝŨĺǝ the rest of the subsectors, which all óƈŘóśĒóİçóíǝǝĉśĺƃŨďǝĺĈǝƣƧȎǝĺśǝįĺśóǝĒİǝ ƤƢƤƤǝËİíǝĈŭśŨďóśǝŭŘŨĒçĥšǝĒİǝƤƢƤƥƿ Where traveller numbers strengthen,
so too will employment numbers and availability of investment for
ŨóçďİĺĨĺĉƉƿǝ¸ďĒĨóǝƤƢƤƥǝĢŭšŨǝįĒššóíǝ ĺŭŨǝĺİǝæóĒİĉǝËǝśóçĺśíǑæśóËĥĒİĉǝ ƉóËśƺǝƤƢƤƦǝĨĺĺĥšǝšóŨǝŨĺǝæóǝËİǝ ËĨĨǑŨĒįóǝśóçĺśíǑæśóËĥĒİĉǝƉóËśƿ
26 — OCTOBER 2024 —
TRAVOLUTION.COM
JANUARY FEBRUARY MARCH APRIL MAY
JANUARY FEBRUARY MARCH APRIL MAY
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