Business Barometer Survey shows high confidence levels for industry

The latest Business Barometer data from UKinbound shows that confidence levels for the UK’s inbound tourism industry are at their highest level for the past three years.

Conducted by Qa Research, the latest Business Barometer survey, held in March 2023 reveals that:

  • 86% of respondents said they were feeling confident about bookings and revenue for the next 12 months (compared to 63% of respondents in April 2022, 34% in April 2021 and 11% in April 2020).
  • Expected or confirmed bookings for Q2 of 2023 are at the same level or higher than they were pre-pandemic for nearly two thirds of businesses responding to the survey.
  • Just over two thirds of businesses responding to the survey stated they expected revenue for Q2 of 2023 and booking levels for Q3 of 2023 to be the same or higher than before the pandemic.
  • There is strong demand from US visitors to come to the UK with nearly half of businesses (48%) responding to the survey reporting they are seeing growth from this market.

Businesses were also asked if they had seen an increase in bookings or enquiries from international visitors due to The King’s Coronation and/or the Eurovision Contest in May but only 16% of respondents had seen an uptick in business due to these events.

Joss Croft OBE, CEO said, “It is a relief to see that so many businesses in the inbound tourism industry are feeling so confident about current and future bookings and revenue and that there is a very high demand from our US visitors to come to the UK.

“The return of the Chinese market will of course take some time to come back and although our members are not reporting a huge increase in interest or bookings from international visitors related to the forthcoming Coronation or Eurovision Song Contest – we know that historically we usually see an increase in the desire to visit the UK after these type of events have taken place due to the substantial increase in media coverage and showcasing of the UK around the world.”

Follow the link below to view the full report.