The hospitality and tourism sectors have long been pillars of economic growth, and their potential to drive investment and create jobs has never been more vital in the face of global economic uncertainty.
Global economic instability demands a shift in Government policymaking to back investable sectors, like hospitality and tourism.
Responding to the announcement by Universal of its UK investment plans, Kate Nicholls, Chief Executive of UKHospitality, said: “This announcement bringing £50 billion in economic growth and 28,000 jobs shows the power of hospitality and tourism to attract inward investment into the UK at a scale not seen for decades, proving our sector’s resilience to global instability.
“The world order has dramatically changed in just a few weeks, and the Government’s Industrial Strategy should adapt in a way that recognises that fact.
“It’s time to adopt a more expansive approach that equally recognises the power of foundational sectors, like hospitality, to attract investment and drive socially productive growth, job creation and regeneration, equitably across the UK.
“The UK is already home to the world’s best hospitality, tourism and leisure companies, and they too should be benefitting from Government backing and support, like that afforded to inward investment.
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“Backing hospitality and tourism is an investment in economic stability, at a time when globalised sectors are facing challenges never seen before, and the UK has consistently been Europe’s largest recipient of tourism inward investment.
“The Government has shown its ability to respond rapidly to shifting global sands and I urge it to show the same flexibility to its Industrial Strategy, for the benefit of the nation.”
