Hospitality businesses across the UK are expected to benefit from a long bank holiday weekend, with some forecasting sales to reach nearly £3bn
Britons are predicted to spend £2.9bn over the four-day weekend in hospitality venues | Photo credit: Simon Migaj
British consumers are forecast to spend £1bn eating out and a further £0.95bn on drink in hospitality venues over the special extended bank holiday weekend to mark the Queen’s Platinum Jubilee.
Research from money-saving website Voucher Codes suggests that Britons are predicted to spend £2.9bn over the four-day weekend in hospitality venues, with total retail spend expected to hit £3.47bn.
Separate research from the quarterly Barclays SME Barometer, which provides an in-depth look at the UK SME economy, reports that nearly half of SMEs in the hospitality and leisure sector that are open across the Jubilee Bank Holiday expect the occasion to increase their sales for this quarter.
The analysis found that those in the hospitality and leisure sector are predicting a 34.7 per cent increase between April and June 2022 against the same period in 2021.