Hospitality Today Summer 2018 (#39) - Page 22

22 | Hospitality Today | Summer 2018 The hospitality market – figures & forecasts Hospitality sector to generate £100 billion in 2018 – industry consistently grows at 6% a year since 2013 Extensive analysis of ONS data published across the last five years by hospitality recruitment platform Adia suggests that the total turnover of all businesses providing ‘Accommodation and Food Services Activities’ will reach £100 billion this year. In addition, over the last five years, the total turnover of all companies in the sector has steadily grown at around 6% a year. The total turnover of all businesses in the hospitality industry reached £98 billion in 2017, up from £92 billion in 2016 and £86 billion in 2015. Based on this rate of growth, Adia expects this figure to comfortably reach £100 billion in the ONS’ 2018 data, which is expected to be published in the autumn. Adia’s analysis of government business population estimates has also revealed that the amount of people employed in the sector now exceeds 2.3 million, representing an increase of 21% compared to 2013 - when the total amount of people working in the industry stood at 1.9 million. Encouragingly, the amount of firms providing accommodation and food services activities in the UK has grown by just under 20% in the last five years, having reached 202,060 - up from 169,235 in 2013. Adia CEO, Ernesto Lamaina comments: “The hospitality sector makes a significant and important contribution to British economic output, equally, the 202,000 businesses operating in the industry play a valuable role as employers and job creators. “Our analysis indicates that the amount of people working in the sector has increased