British Tourism & Travel Show (BTTS) has released some of its interim findings from the 2017 BTTS ‘Domestic Tourism’ Industry Snapshot.
The initial findings are extremely positive for the market: 61% report an increase in group bookings over the past year.
Around two thirds of respondents (64%) say visitor numbers/bookings are on the rise (18% on average, up from 15% at the same time last year) and over half (54%) predict consumer spending to improve over the next 12 months.
Online/app bookings are also up by around 19%.
Overall, 77% are either very optimistic (30%) or fairly optimistic (47%) about the future of the domestic tourism trade.
Although that is down from the 90% reported in March 2016 (at the time of the first BTTS survey), before the Brexit vote in June that year.
There is a general consensus that Brexit will continue to have an influence on future consumer spending. However, opinions are mixed on the actual impact of the Brexit vote on their business’ prospects.
When asked specifically about the Brexit vote: 36% said last year’s referendum result had no discernible impact on their business, while 29% reported a positive impact.
The remaining 35%, many of whom also cater to the outbound tourism market, said it was already having a negative effect. Notably, many respondents commented that it may be ‘too early to tell’ the full impact.
Rising costs and general economic uncertainty doesn’t change the fact that ‘people still want to go on holiday’. Consumers are spending but they are taking other considerations into account.
‘Value for money’ has now overtaken all other factors that consumers consider when booking an outing or trip. Experience, cost and location (in that order) topped the list in last year’s survey.
An increase in staycations, more last minute booking, a rise in inbound tourism (from China, the US and Canada, for example), and a greater focus on experiential holidays and breaks, have been identified as some of the key trends to watch, so far.
“This is a really exciting time for British and Irish tourism,” says David Maguire, Director of BTTS. Yes, there are challenges ahead but also plenty of potential for growth.”
