More good news for the hospitality sector; HMG has committed a further £90 million to help promote the UK as a place to visit and do business in. Forecasts are that some 32.6 million people will visit these shores during 2014, spending some £21.5billion!
New markets for our visitors to come from include China, Malaysia, South Korea and Mexico, and new (relaxed) visa regulations are forecast to see a step change in visitor numbers from these countries.
Now being that pubs are in the center of hospitality in the UK and being that "to visit a British Pub" is often on the list of reasons to visit the UK, it seems to me there is a few quid to be made here by our over-worked, under-paid (apparently) licensees.
I have tried to work out on my calculator that if say 20% of the £21.5 billion is spent in pubs and that there are some 50000 pubs left, how much could each see in their tills? Unfortunately my calculator does not allow for such large numbers, all it tells me is that there is plenty to go around!
Which pubs will benefit the most? I'll bet it's those that market their businesses the best! 'Hospitality' is the Bedrock of the UK economy, so says a report from Visit Britain and their GREAT campaign; The Great British Pub is at the heart of it!!
Martin Read CMBII
Managing Director of Inn-Dispensable Personal Licence Courses
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