The uncertain economic environment, mainly driven by Brexit affecting exchange rates and pushing inflation up, is affecting the UK travel industry. The negative sentiment surrounding Brexit is resulting in consumers travelling less frequently, hesitating with holiday plans, and being more cautious with their spending.
Inbound trips are expected to experience modest growth over the 2019-2024 period, with the long-haul segment projected to grow faster than the EU market; a key trend for this being visits from Asia, for example China and the Philippines, seen good performance. As long-haul visitors tend to stay longer in the country, it provides growing opportunities for spending levels.
Sustainability and conscious consumerism continue and will continue to shape the travel industry as consumers are increasingly aware about the impact that their decisions have on the environment and on the local communities they visit. Consumers and travel operators are embracing responsible tourism practices.
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This industry report originates from Passport, our Travel And Tourism market research database.