Extensive analysis of Office of National Statistics data (ONS) published over the last five years by hospitality recruitment platform Adia reveals that the total turnover of all businesses providing ‘Accommodation and Food Services Activities’ will reach £100bn this year.
In addition, over the last five years, the total turnover of all companies in the sector has steadily grown at around six per cent a year.
Adia – recruitment giant Adecco‘s online hospitality platform – looked at ONS data for companies listed under ‘accommodation and food services activities’.
As well as estimating the industry’s worth at £100bn, Adia’s analysis also shows that the number of people employed in hospitality is now in excess of 2.3 million.
This represents an increase of 21 per cent compared to 2013, when the total amount of people working in the industry was 1.9 million.
“The hospitality sector makes a significant and important contribution to British economic output, equally, the 202,000 businesses operating in the industry play a valuable role as employers and job creators,” said Ernesto Lamaina, Adia CEO.
“Our analysis indicates that the amount of people working in the sector has increased by over 409,000 in the last five years, which is testament to the health of the industry.”