UKHospitality and its Importance to The UK Economy post-Brexit
Modern pubs, bars and restaurants are valuable social, economic and community assets – they contribute to our thriving tourism sector, high street generation and attract and support significant inward investment.
Earlier this year, the British Hospitality Association (BHA) and Association of Licenced Multiple Retailers (ALMR) merged to create UKHospitality, a new association representing 700 operators across 65,000 sites.
It may not be widely known just how much financial contribution to the UK this sector represents. So to help put this into perspective, we have pulled some eye watering stats together for you. Read on to find out more.
Did you know?
The revenue generated by UKHospitality is over £130 billion per year. That's more than the pharmaceutical, aerospace and automotive industries put together, generating over £750 million per week of tax revenue!
It’s also the third largest private sector employer, so it is important to secure and protect the high street and the hospitality dividend that is received into the government. The importance of protecting this income as part of the post-Brexit negotiations is highlighted below.
Who is a member and why?
The idea behind the merger was to unite and allow the two previously separate bodies to have one voice to the government.
“Licensed hospitality businesses are integral to the success of the wider economy and this needs to be at the forefront of the government’s minds as it approaches withdrawal from the EU.” - Kate Nicholls AMLR Chief Exec
Some of the 600 members include:
• Mighty Local Pubs
• New World Trading Company
• The Real Eating Company
• Urban Pubs & Bars
Business rate changes for UK hospitality
The predications made in business rates for the sector back in April this year were £300-500m in additional cost to the hospitality sector. Modern pubs, bars and restaurants are valuable social, economic and community assets – they contribute to our thriving tourism sector, high street generation and attract and support significant inward investment.
To discuss how Virtual College can help with your hospitality challenges, please email us on email@example.com and one of our experts will get back to you.
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