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Tourism grows at a faster rate than other industries following the recession of 2008

Released: 03 December 2014 Download PDF

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Figure 1: Annual TDGVA estimates 2008-2013

Figure 1: Annual TDGVA estimates 2008-2013
Source: Office for National Statistics

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Tourism direct GVA (TDGVA) is a measure of the importance of the importance of tourism in the UK economy and is based on how the expenditure of tourists drives the output of the tourism industries and other sectors. TDGVA remained flat between 2008 and 2010 but grew significantly in both 2011 and 2012 and has since levelled off in 2013. In monetary terms, and measured in current prices, TDGVA stood at £49 billion between 2008 and 2010 and increased to £53 billion in 2011. Our estimates reveal a rise in the value of tourism for both 2012 and 2013 to £56 billion based on this measure. The growth rates for the years 2011-2013 were 8.6%, 5.7% and -0.1% respectively.

Figure 2: Total GVA growth for selected UK industries between 2008 and 2013

Figure 2: Total GVA growth for selected UK industries between 2008 and 2013
Source: Office for National Statistics

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Figure 2 shows that the tourism industry direct GVA growth between 2008 and 2013 has outpaced GVA growth in 8 other comparison industries selected in this analysis. TDGVA grew by 14.5% between 2009 an 2013 while GVA fell by 23.9% in mining and quarrying, fell by 12.5% in financial and insurance, by 2.6% in construction and by 2.3% in manufacturing.

Source: Office for National Statistics

Background notes

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