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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May- 2022 -3 May
UK leads Europe hotel occupancy recovery, says STR
The UK, Poland and Ireland are leading Europe’s hotel occupancy recovery as these three countries have achieved occupancy indexes that…
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Apr- 2022 -21 April
Travel and tourism to create 126 million new jobs, says WTTC
The World Travel and Tourism Council (WTTC) revealed that the travel and tourism sector is expected to create nearly 126…
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11 April
Hotels see first positive economic growth since August 2021
Accommodation and food service activities grew by 8.6% in February 2022, marking the main services contribution to the UK’s gross…
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1 April
Double-digit price rises set for hospitality customers, UKH warns
The increase in VAT for hospitality from 12.5% to 20% which is effective today, combined with a forecasted cost inflation…
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Mar- 2022 -24 March
Return to 20% VAT a ‘massive missed opportunity’, UKH says
A return to 20% VAT for the hospitality and tourism industry will be met with disappointment by thousands of hospitality…
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17 March
Parliamentary inquiry recommends VAT remains at 12.5%
An inquiry by a group of MPs has recommended that VAT for the hospitality and tourism sectors stays at 12.5%…
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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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