Abta predicts that the UK outbound travel industry will grow 15% from 2019 levels over the next five years.
The study, carried out by York Aviation on behalf of the association, also reveals that the UK’s outbound travel industry is worth £49bn to the UK economy per year and supports 720,000 jobs across the UK.
In addition, it shows that the sector raises £6.9bn a year in tax revenues to HM Treasury. The full findings are due to be published next month in a joint report with UKinbound.
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The figures come as the chancellor last week set out the government’s agenda for growth and highlight that, with the right government framework, the UK outbound sector’s growth is set to outperform most other parts of the UK economy.
Mark Tanzer, chief executive of Abta, said: “There is always a risk that outbound travel’s valuable contribution to the UK economy is overlooked because it is wrongly perceived as an industry which takes value out of the economy, when this couldn’t be further from the truth.
“Outbound travel is a huge supporter of jobs and contributor to the economy and exchequer, as well as a strong driver for growth. We will be continuing to make that case to this government and to MPs.
“Obviously the industry is still recovering from the impact of the pandemic and there are challenges to navigate, including the cost of living and wider economic health.
“But the return to demand as travel restrictions lifted early this year shows just how important holidays are for people and early signs are that they will continue to be a spending priority.”
This is the fourth time Abta has commissioned in-depth research of this kind.
Abta said the full report, to be published in October, will outline the combined contribution from international travel and enable an evaluation of the worth of travel and tourism to each constituency across the UK.