More money in the bank spells increased demand for leisure and tourism

Leisure Tourism spend
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UK saving account balances are at an all time high with more set to be spent on leisure and tourism than in pre-pandemic years, according to notes from a recent Bacta meeting with an investment bank.

 

The notes, taken by Instance AutomaticsIan Eason, explain that while from a social perspective the UK has experienced 10 years worth of behavioural change in 6 months, the British public are as eager as ever to go back to the good old days of unrestricted travel and entertainment.

“There is expected to be increased demand for UK leisure and tourism,” wrote Eason. “Another point [the investment banker] made was that UK saving account balances are at an all time high due to furlough and lockdown (restricting spend). There has never been as much money in personal accounts, ever as there is currently.”

The Bacta meeting also revealed that there has been increased foreign investment interest in the UK’s domestic tourism and leisure sectors, which is not necessarily linked to the Covid-19 pandemic.


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