UKinbound’s members rely on the EU for nearly 50% of business

UKinbound, which represents 350 firms in Britain’s travel and tourism industry, has revealed that almost half (46%) of its members inbound business comes from EU markets.

The survey follows on from the trade association’s first Business Barometer of the year which revealed that 82% of its members believe that staying in the European Union is important for their business.

Deirdre Wells, CEO, said: “Our most recent survey demonstrates how important the EU is as a key source market for our businesses. It has also exposed that 27% of our members’ workforces are made up of EU migrants.

“This shows a clear demonstration of how the free movement of goods and people – that founding principle of the EU – is so vital for our business. The EU is a vital and vibrant market for inbound tourism, supplying two-thirds of our visitors, and one third of our industry’s employees. It would be economic suicide for us to leave.”

Hailed as one of the leading contributors to the economy, overseas visitor spending in the UK contributed £22bn last year with each inbound visitor subsidising an additional £630 in export earnings and bestowing £216 to the Exchequer.