More Brits holidaying at home provides boost to UK economy - Barclays

More British holidaymakers are choosing to stay at home for their annual break, providing a vital boost for British business, with the average spend per stay up 6 per cent, according to Barclays.

The bank’s business data reveals turnover for small and medium enterprises (SME) in the accommodation and food services sector during the first half of this year is up 6.4 per cent on the same period in 2015. Overall business income in the sector totals £50 billion and is up 30 per cent since 2012, making the sector one of the strongest growing in the UK.

Adam Rowse, head of business banking at Barclays said: “Brits are opting to spend their leisure time on UK shores and in turn it is boosting the takings of business in the tourism sector. With a weaker pound, UK SMEs are also likely to see a rise in overseas holidaymakers coming to the UK.

“With people spending more money on their ‘Great British Getaway’, this in turn presents a huge opportunity for business owners and the tourism industry to capitalise on the rise in domestic tourism. There is welcome growth for UK accommodation and food sectors who have adapted around seasonal volatility and come out fighting.”

The seaside is the most popular type of staycation with 46 per cent heading to be beside the sea, then country breaks (40 per cent). A city break is chosen by 36 per cent, 25 per cent want to spend holidays staying with friends and family, followed by those visiting National Trust sites (21 per cent).

Reasons for choosing a UK staycation include those that like to explore their own country (38 per cent), experiencing lots of fun things to do in the UK (34 per cent), cutting down travel time (27 per cent) and 22 per cent think it’s a cheaper holiday.

A further 19 per cent said they were remaining in the UK due to security concerns and terror attacks abroad.