With the UK narrowly avoiding a much feared triple dip recession, international research from communications experts, Pitney Bowes, has revealed that the travel industry is set to be the first to prosper once the British economy finally stabilises into a period of solid growth once again.
The study, entitled ‘Recovery Signals’, asked consumers where they would be looking to increase their spending once the economy improves, and it showed that almost two thirds of consumers (60%) are planning to splash out on holidays.
After travel, the clothes retail (38%), DIY (33%), restaurant (28%) and car industries (25%) respectively are set to gain the most from increased consumer expenditure.
Colin Forrest, Head of Marketing for UK and ROI at Pitney Bowes, said “Tightened belts have meant that professionals and families alike have had to cut back on escaping the daily grind over the last few years, and our findings confirm that Brits have missed their holidays. This research shows that good news is on the horizon though, and SMEs in the travel industry should ensure that their customer communication strategies are perfected now so that they can maximise revenues from this predicted increase in holiday spending.”
Babysitters and taxi drivers are least likely to see an increase in custom, with the survey revealing that just 3 per cent of the British population intend on increasing their spending in these areas.