The contribution to the UK economy from outbound travel has increased by a third since 2014, reveals ABTA.
The overall contribution to the UK economy from outbound travel now stands at £37.1 billion and 1.8% of GDP, up 36% from £27.1 billion in 2014. This is the Gross Value Added of the travel industry, which takes account of direct spend on travel services and holidays, as well as a range of associated products and services such as duty free, cameras and sun tan lotion.
The findings are from ABTA’s new report ‘Driving Growth – The economic value of outbound travel’ which is an analysis of the economic contribution of the UK’s outbound travel industry.
The report lays to rest the argument that outbound travel doesn’t contribute to the UK economy. The analysis finds travellers now spend more in the UK before they travel than they do while abroad. UK travellers spent £45.7 billion in 2017, compared to £44.8bn overseas, an increase of almost £10bn since 2014.