According to the report an average 70,000 new jobs will be generated annually, while the sector’s contribution to UK GDP is forecast to grow at an average annual rate of 3% within the same time period.
This figure is nearly twice that of the predicted growth rate for the overall UK economy, calculated at 1.7%.
By the end of 2022 travel and tourism industry’s contribution to UK GDP is expected to grow nearly two-thirds, to nearly £214 billion amounting to 8.9% of the total economic GDP.
In the same period employment is set to grow in the sector by 0.5% to reach more than four million jobs.
