The hospitality industry reportedly contributed to 40% of the UK’s total economic growth between Q1 and Q2 2021.
The figure comes from the latest UKHospitality Quarterly Tracker, produced by CGA, which followed ONS data revealing the UK GDP to have grown 4.8% in June.
Kate Nicholls, chief executive at UKH, said that the results both “show the importance of the hospitality sector to the UK economy” and “demonstrate its real potential to power a wider economic recovery”.
However, Nicholls highlighted that the period “was not characterised by booming sales and plain sailing” for the hospitality sector.
She revealed that during the course of the pandemic, the industry lost over £100bn in sales as businesses operated “under strict restrictions”.
Nicholls added: “To help safeguard the future of the sector and its recovery, we urge the Government to continue to work closely with businesses to help them navigate the challenges that we will undoubtedly face in the months ahead and to create a business landscape that will help return businesses to profitability as quickly as possible.
“Measures we are calling for include the urgently needed reform of business rates and a permanently lowered rate of VAT.”