ABTA launches ‘Driving Growth’ report at annual Travel Matters conference
A report published today by ABTA has revealed the substantial economic contribution of outbound travel. The study, carried out by the Centre for Economics Business Research (Cebr) for ABTA shows that outbound travel’s economic contribution in the UK totals £28.3 billion, representing 1.8% of the UK’s GDP*. This includes a direct contribution of £11.7 billion, which is equivalent to 0.8% of UK GDP.
Outbound travel also supports 214,000 jobs directly and 435,000 in the wider economy. This represents a greater UK employment contribution than the country’s postal and courier industries, and those involved in the manufacture of food products and electrical equipment.
The report ‘Driving Growth’, which will be launched at ABTA’s annual Travel Matters conference, seeks to underline the value of outbound tourism and to challenge the so-called ‘tourism deficit’, that is the difference in spend by UK residents abroad, and foreign residents’ spend in the UK. Indeed, the report shows that holidaymakers spend in excess of £34 billion in the UK before they go abroad highlighting the important economic contribution outbound tourism makes to the UK economy.
‘Driving Growth’ also demonstrates the enormous potential that outbound travel possesses, with the sector in prime position to capitalise on economic recovery and the growth in household disposable income that the Cebr projects in the next five years.
Travel Matters, now in its sixth year, is taking place today in St James, London. The event brings together 200 senior level representatives from ABTA’s membership, industry stakeholders, and representatives of Government departments and bodies. Among others, Aviation Minister, Robert Goodwill, The Monarch Group CEO Andrew Swaffield, and ABTA Chief Executive Mark Tanzer will address attendees.
Tanzer will present the report’s findings, highlighting outbound travel’s integral part of the UK’s tourism mix of inbound, outbound and domestic travel businesses.
Mark Tanzer, ABTA Chief Executive said: “Outbound travel is a key part of the UK’s vibrant tourism mix and has enormous potential for growth. With a new Government in place, and the Budget just around the corner, important decisions are about to be made. The message from Travel Matters will be clear: MPs and Government must ensure that we have in place the right policy and tax framework to allow the UK’s tourism mix to reach its full potential in the years ahead.”
The report is available online at www.abta.com/drivinggrowth.