Cautious optimism among tourism businesses, our latest survey finds

A sense of cautious optimism within the tourism industry emerged from our latest survey of UKinbound members.

The Business Barometer, conducted in collaboration with UKinbound, showed a small increase in confidence levels. Year-on-year bookings, visitor numbers, customer orders and revenue yield were also higher than or the same as last.

The results relate to September and October 2017 activity. Altogether 60% of respondents said they are confident about the upcoming 12 months – an increase of 7% on July/August data.

Members stated that their forward bookings are looking good and their overseas clients remain optimistic. A closer partnership with China was cited as a reason for optimism.

Bookings, visitor numbers or customer orders were higher or the same as last year for 72% of respondents, with members stating targeted marketing at overseas visitors and a successful half term were the cause.

Eight out of ten respondents stated that yield was above or the same as 2016 figures. For those who reported higher revenue yields, the average increase was 30%.

Encouraging results

For 57% of respondents the favourable exchange rate had boosted business. Nearly a quarter (23%) indicated it had led to higher spending at attractions.

UKinbound is the voice for inbound tourism. Chief Executive Deirdre Wells said: “It’s been an uncertain year for many of our members due to the economic and political climate, but these latest Business Barometer results are encouraging.

“I’m pleased to hear that confidence levels have risen and that members are finding year-on-year figures up. This highlights the resilience of our industry.

“Looking to 2018, we await the results of the Tourism Sector Deal bid, where we hope the tourism industry and our members receive the support and investment required for further long-term prosperity.”

The USA remains the main growth market but dipped slightly, while 25% of members stated they were not experiencing growth from any overseas markets.

To view the full report please click here (PDF).

For more information about our tourism industry research studies contact: Richard Bryan or call 01904 632039.