You deserve a round of applause!
Days can be long and tiring in the hospitality industry, especially with peak business times being the same times you’d love to clock off.
BUT research commissioned by the British Hospitality Associations (BHA), conducted by Ignite Economy, demonstrates that all your hard work is paying off.
*Reported in Propel Newsletter
Here are just a few facts that prove you deserve a pat on the back:
- The hospitality industry has grown more quickly than any other sector since 2008
- It is set to create another 500,000 jobs over the next five years
- The industry is the fourth largest employer, creating 3.2 million direct jobs and 2.8 million indirect jobs
- Hospitality is the top six employer in every region in the UK
- Hospitality gross value added 5.9% - almost double that of the economy as a whole
- Labour productivity has grown more than double the rate of the overall economy since 2008
- The industry gross value added 3.2% per hour worked, compared to 1.5% for the wider economy
- Last year, the hospitality and tourism sectors brought £73 billion to the economy
Despite this however, the sector’s future growth is still uncertain due to:
- Britain delivering fairly low wage and low-skill jobs
- Falling real living standards
- Costs of implementing the National Living Wage
- Increase in business rates
- Potential lack of labour following exit from the EU
So to all you future hospitality connoisseurs out there, please join the crew.
At times it can be tough, but it’s rewarding. And you will help keep the sector being as successful as it is!
Here at CaterCost, we don’t want you to be controlled by your calculating skills, nervous about nutrition and allergen info or in pain about your profit margin.
We want you to be creative with cooking, boss it in business management and be celebrated for your customer service. If our Menu Management Software helps you do that, we’ll be proud to know we’ve done our bit to help the hospitality industry. Why not give it a try?