ONS’ data spanning the last five years shows that the total turnover of all companies in the hospitality sector has grown at around 6% per year and reached £98bn in 2017 – up from up from £92bn in 2016 and £86bn in 2015.
Based on this rate of growth, Adia has predicted this figure will be shown to have reached £100bn in ONS data to be published in autumn 2018.
The number of people employed in the sector now exceeds 2.3m, according to Adia’s analysis, representing an increase of 21% compared with 2013 when a total of 1.9m people worked in the industry.
Adia’s chief executive officer Ernesto Lamaina commented: “The hospitality sector makes a significant and important contribution to British economic output. Equally, the 202,000 businesses operating in the industry play a valuable role as employers and job creators.
“Our analysis indicates the number of people working in the sector has increased by over 409,000 in the last five years, which is testament to the health of the industry.
“However, as we’re seeing across the entire economy, the way we’re working and employing is changing. Employees expect flexibility, and often employers require it. Businesses must respond to that.
“We believe the ‘now economy’ is a system where companies can more efficiently manage staffing costs, and people are free to pursue the roles they want.”