‘Staycation’ boost to UK economy – millions of families shun foreign holidays
After the recent Turkey coup and the awful tragedy in France, it’s not surprising that tourism boards across the UK are reporting record-breaking numbers of bookings and inquiries over the past few weeks, suggesting workers will pump billions of pounds back into the UK instead of spending their cash abroad.
Justin Urquart Stewart, economist and director at Seven Investment Management, said: “More people holidaying in the UK will hugely boost our economy at a time when we greatly need it. “Families spend around 20pc of their net incomes on holidays so the impact will be disproportionately large. As demand rises prices of UK AirBnb and hotel rooms will increase very quickly too, however.”
It’s great news for all of our accommodation providers in the UK, and when the sun shines, there’s no-where better (in our optinion!) than a holiday in the UK!