Economy
The latest economic news and how it affects the hotel and hospitality industry. Keep up to date with all the latest stories with Hotel Owner’s industry-leading coverage.
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Mar- 2022 -8 March
Consumer spending surges 13.7% in February
Consumer card spending grew year-on-year by 13.7% in February, the highest growth since November 2021, as the economy reopened following…
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Feb- 2022 -28 February
London’s tourism industry to see boost from £10m campaign
London’s tourism sector will reportedly benefit from a £10m campaign designed by Sadiq Khan, the mayor of London, to drive…
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21 February
21% jump in UK travel sector insolvencies amid stop-start holiday season
Insolvencies of UK travel agents and tour operators increased 21% from 68 to 82 in the year ending 30 November…
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18 February
Hospitality suffers £115bn loss amid Covid damage
The hospitality industry has suffered a £115bn loss over the last two years due to Covid-19 as the sector was…
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4 February
Travel & tourism to contribute $8.6tn to global GDP
Travel and tourism’s contribution to the global economy could reach $8.6tn (£6.34tn) in 2022 as the sector begins to recover…
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3 February
BoE raises interest rates to 0.5%
The Bank of England (BoE) has raised interest rates for the second time in three months to 0.5%, up from…
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3 February
Energy price cap to rise 54% from April
Hospitality bosses are braced for a spending squeeze after it was revealed the energy price cap is set to increase…
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Jan- 2022 -25 January
UKH welcomes easing of travel restrictions
The news that international visitors to the UK who are vaccinated against Covid-19 will no longer be required to test…
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24 January
Profit warnings from travel & leisure firms fall to 7-year low
Profit warnings issued by FTSE travel and leisure companies fell to their lowest level in seven years in 2021 despite…
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24 January
Scottish hotel investment soars 166% in 2021
The Scottish hotel market has seen investment volumes rise 166% to £185m in 2021, compared to the £70m transactions conducted…
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