Staycation Trend To Rise
Spending from staycationers is set to rise by around 25% over the next three years, according to a new report by Barclays.
Overall spending by UK domestic tourists is forecast to rise to £108 million between 2013 and 2017.
The forecast is based on the recovery staying on track without people immediately switching back to their pre-recessionary holiday habits with trips abroad. Barclays said the hospitality and leisure sectors will benefit most from the staycationing trend, with spend in pubs and restaurants forecast to rise 26% to £37bn as more people dine out.
UK-wide hotel and B&B spend is expected to increase by 25% to £17bn, with leisure attractions going up 27% to £15bn and shopping rising 23% to £15.6bn.
“The economy is improving and confidence is certainly growing,” commented Mike Saul, head of hospitality and leisure at Barclays. He added: “With domestic tourism set to be big business for the UK’s hospitality and retail sectors, those with a clearly targeted strategy are set to benefit.”