Autumn Business Barometer Shows Cautious Optimism Among Members

UKinbound’s latest Business Barometer, conducted in collaboration with Qa Research, has shown that members are cautiously optimistic about the future, as confidence levels saw a small increase. Year-on-year bookings/visitor numbers/customer orders and revenue yield were also higher than or the same as last year.

The results relate to September and October 2017 activity with 60% of respondents confirming 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/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. 80% stated that yield was above or the same as 2016 figures. For those who reported higher revenue yields, the average increase was 30%.

The survey also looked at the effects that the favourable exchange rate is having on businesses, with 57% of respondents stating it has resulted in more customer orders/visitors/bookings. 23% indicated it had led to higher spending at attractions.

Chief Executive Deirdre Wells commented, “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.