Last week the office for national statistics (ONS) released analysis of industries related to travel and tourism in the UK that have been affected by the coronavirus (COVID-19) pandemic, using data on business performance and the labour market. The main points from their analysis are:
- Monthly air passenger arrivals to the UK fell from 6,804,900 in February 2020 to 112,300 in April 2020, a fall of 98.3%.
- Greater London saw the largest fall in room occupancy of any English region from 2019 to 2020, with just 20% of rooms occupied in July 2020 compared with 90% in the same month in 2019.
- Accommodation and travel agency businesses saw the sharpest decline in turnover during the first national lockdown, falling to 9.3% of their February levels in May 2020.
- The proportion of businesses in travel and tourism industries trading peaked at 85% in October 2020, before declining in response to increasing restrictions in November.
- In the three months to June 2020, employment in accommodation for visitors fell by 21.5% compared with the same three months of 2019.
- In travel and tourism industries overall, the number of people aged 16 to 24 years saw the largest fall in employment of any age group between Quarter 3 (July to Sept) 2019 and Quarter 3, 2020.
As we are still in lockdown the results are not surprising. We hope that this sector bounces back in the summer once the vaccination programme and other measures stabilise the virus.
If you wish to speak to one of our travel sector specialist accountants about any aspect of your business or planning for its recovery please contact us on 020 7330 0000.