The study, carried out by York Aviation, found the industry is worth £49 billion to the UK economy annually, supporting 720,000 jobs and raising nearly £7 billion a year in tax revenues for HM Treasury.
In addition, the study highlighted how consumers spend £51 billion each year in the UK before travelling overseas. Abta has shared its findings with prime minister Liz Truss, chancellor Kwasi Kwarteng, business secretary Jacob Rees-Mogg and transport secretary Anne-Marie Trevelyan.
A full report will be published next month, outlining the worth of travel and tourism to each constituency across the UK. Abta said "with the right tax and policy framework", the UK outbound travel sector’s growth "is set to outperform most other parts of the UK economy".
The data will be used as part of Abta’s lobbying work with the government and the UK’s devolved administrations. It is the fourth in-depth assessment of the industry’s economic contribution Abta has commissioned. The research is based on the most recent full year’s data (2019) and projects forward five years from now to 2027.
Mark Tanzer, Abta chief executive, 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.
Tanzer added: “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."
