Britons to spend £2.5billion when indoor hospitality reopens
Tuesday, May 18, 2021
British consumers are expected to provide a much-needed boost to the economy, spending billions in the first week since restaurants and leisure facilities were reopened in England on May 17.
Compared to the same week in 2019, last May before Count, venues this week will enjoy a sales surge of 34.8%, with consumers forecasting they will spend a 41.2% more than that the same day in 2019 (£301.4m).
Friday and Saturday will be the busiest days for spending, with more than 16 million people expected to venture out, spending £18 million and £18 million respectively.
By the end of 2022, pubs would be worth £409.3billion, 49.7 per cent higher than they were in 2021.
13.6 million shoppers are predicted to spend £237million on indoor food for the first time since December 2020, when the catering industry resumes in full on Monday.
Angus Drummond, senior director for advertising at VoucherCodes.co.uk, said: "If people in the UK are known for anything it's our love for pubs and restaurants, so it's no surprise to see that so many people are planning to make the most of being able to sit inside and enjoy drinks and meals out next week.
'It's been an incredibly tough year for the hospitality industry with large periods of closure, so it's particularly encouraging that this report forecasts a quick and strong recovery over the next couple of years,' said Angus Drummond, senior director of commercial with VoucherCodes.
Looking to 2022, the report predicts that hospitality will be 'set for a bumper year', as people enjoy their first full year of uncapped travel since 2019.