UK economy contracted by 9.9% during 2020, but Tourism bares the brunt!

The ONS report released (12/02/21) shows the economic impact of coronavirus on different sectors of the UK economy, but also how the tourism and hospitality sectors have borne much of the brunt of this fall in GDP by contracting by the following percentages compared to February 2020.

• Air transport                                                      - 89.3%
• Travel Agents and Tour Operators             - 85.9%
• Tourism Accommodation                              - 73.3%
• Creative Arts and Entertainment               - 60.7%
• Food and Beverage Services                        - 48.0%
• Museums, Libraries Cultural Service         - 38.9%
• Sport, Amusement and Recreational       -  26.2%
• Water transport                                                - 25.8%

 
This shows tourism-related sectors were amongst the most impacted sectors of the UK economy. Others suffering a similar contraction of this magnitude being Rail Transport (-64%) and Domestic Staff (-50.8%). These figures highlight the need for the budget to focus on supporting and helping rebuild these sectors of the economy.
 
https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/coronavirusandtheimpactonoutputintheukeconomy/december2020