New Consumer Goods market report from Business Monitor International: "United Kingdom Tourism Report Q4 2013"
Boston, MA -- (SBWIRE) -- 10/03/2013 -- The UK's tourism industry has seen strong growth across its tourism sector over 2013 following the high levels of international publicity in the summer of 2012. We believe it is one of the strongest tourism markets in Western Europe, with the highest hotels industry value and one of the highest tourism arrivals and tourism receipts values; we see these trends continuing throughout our forecast period.
The UK is also due to host two major international sporting events over the coming years - the 2014 Commonwealth Games in Glasgow and the 2015 Rugby World Cup (at various locations around the country). These events are likely to result in large numbers of participants and spectators travelling to the United Kingdom.
An overview of the UK's top 10 tourism markets highlights the fact that Europe remains the UK's main source of tourism, despite the continuing economic uncertainty. However we are calculating a slight decline on our previous Q4 forecast as the continuing economic downturn in much of Europe over this period is likely to act as a deterrent for potential tourists. However the other regions are forecast to see a growth in arrivals over 2013 and we have increased our forecasts for inbound tourists from these regions.
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After a period of significant infrastructure development and hotel-building activity in the run-up to the 2012 Olympic Games, the scene may now be set for more modest overall growth in the UK's hotel industry.
Recent developments include:
- Accor is launching a new brand in the UK, the Adiago aparthotels, the first of which opened in Liverpool in March 2013.
- The group also re-launched their Mercure hotel in London in June 2013, following an extensive redesign of the hotel. It is the flagship UK hotel in a brand Accor is hoping to double the size of by 2016.
- Over the past quarter ICHG has signed three new hotels to its Holiday Inn brand. UK construction company Balfour Beatty secured a contract worth GBP121mn (US$181.5mn) to build a hotel, leisure and apartment complex for Grove Developments in North Greenwich Peninsula in London.
- China-based commercial property and entertainment conglomerate Dalian Wanda Group is to develop a hotel and residential project in London.
- UK conglomerate Rigby Group has acquired a majority stake in Exeter International Airport.
- The GBP80mn (US$123.5mn) redevelopment of the terminal at Stansted Airport has begun.
- UK airports operator Manchester Airports Group (MAG) has awarded BAM Construct, Carillion and Galliford Try a contract for its capital delivery programme framework worth up to GBP100mn (US $156.65mn) annually.
- Birmingham International Airport has detailed plans to expand its capacity to rival that of Heathrow. This would see it become the UK's second long-haul hub.
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