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A number of CEOs in the hospitality industry are concerned that an uncertain general election could damage consumer confidence and business this year.
This is according to a new report from executive search firm Heidrick & Struggles and the British Hospitality Association (BHA) which surveyed 42 UK-based industry leaders, including Marriott, Travelodge, Elior Holdings, Whitbread, Fullers and TUI Travel.
The report found that over half of hospitality leaders were optimistic that consumers would continue to spend money over the next 12 months, however they raised fears that “rash” policies introduced by any incoming government could affect “fragile” consumer confidence.
CEOs were also vocal about politicians not understanding the industry’s importance to the economy, treating hospitality as the “Cinderella” sector.
Despite this, more than two thirds of executives (72%) were positive about the UK’s economic growth outlook, while nearly the same amount predicted moderate or significant growth for their own company (67%).
More than half of those surveyed reported that their business was performing better this year when compared with the previous year.
Ufi Ibrahim, chief executive of the BHA, said: “As the country’s fourth largest employer, biggest contributor to new jobs over the past five years, and one of the greatest conduits to spreading wealth across the entire country, the incoming government needs to step up to the plate and effectively serve our 3 million strong workforce.
“Ensuring a conducive policy environment to support the hospitality and tourism industry is not ‘rocket science’. It just needs commitment, leadership and a government that works with our private sector, rather than against it.”
Image courtesy of VisitEngland/Diana Jarvis
