UK Hospitality sector to generate £100 billion in 2018 – industry consistently grows at 6 per cent a year since 2013
Extensive analysis of ONS data* published across the last five years by hospitality recruitment platform, Adia - suggests that the total turnover of all businesses providing 'Accommodation and Food Services Activities' will reach £100 billion this year. In addition, over the last five years, the total turnover of all companies in the sector has steadily grown at around 6 per cent a year.The total turnover of all businesses in the hospitality ind ustry reached £98 billion in 2017, up from £92 billion in 2016 and £86 billion in 2015. Based on this rate of growth, Adia expects this figure to comfortably reach £100 billion in the ONS' 2018 data, which is expected to be published in the autumn.Adia's analysis of government business population estimates has also revealed that the amount of people employed in the sector now exceeds 2.3 million, representing an increase of 21 per cent compared to 2013 - when the total amount of people working in the industry stood at 1.9 million.Encouragingly, the amount of firms providing accommodation and food services activities in the UK has grown by just under 20 per cent in the last five years, having reached 202,060 - up from 169,235 in 2013.