The hotel and catering industries can look forward to a bright future as projections from VisitEngland suggest that the tourist economy is set to experience more than 33% growth by 2020.

The tourist board has just launched its Strategic Framework for Tourism 2010-2020, stating the aim to effect a 5% annual growth in income from tourism over the next decade. This would equate to a huge increase in generated income from the current £97 billion per annum to £147 billion by 2020.

Tourism has a significant role to play in the UK economy, particularly for the catering industry. A growth of this magnitude would see tens, possibly hundreds of thousands of new jobs created in the sector as businesses gain more trade and with it increased revenue and profit. It is estimated that in excess of 1 million people currently work in the UK catering industry.

England is set to host a number of major sporting events in the coming decade; the Olympics, the Champions League final, the Ryder Cup and Rugby World cup. It is expected that these events will not only bring short-term and immediate growth to caterers’ takings, but will represent a fantastic opportunity for promoting the country and thereby encouraging people to return to generate ongoing business.

VisitEngland was formed last year and has been provided with a £122 million budget to aid in the promotion of the UK as a tourist destination. After the recent slowdown in trade that the catering industry experienced following the recession, caterers up and down the country should be delighted at these new predictions.

Posted by Matt on the 29th March 2010