The hospitality industry is central to the UK economy.
Across the food and beverage, accommodation, travel, tourism, and entertainment and recreation sectors, the industry is the UK’s third biggest employer, providing livelihoods to some 3.5 million workers.
It directly contributes £93bn to the economy annually, adding billions to the public purse in tax receipts, and attracting billions more in inward business investment.
And yet the past few years have been tumultuous at best for such a keystone industry. Pummelled by the COVID-19 pandemic, hospitality businesses have had to deal with soaring costs, falling customer numbers, labour shortages and rapid changes in consumer habits in the aftermath.
The purpose of this guide is to take a snapshot of where the industry is right now in 2024, and offer some insights into the path forward.
