With outbound traveller numbers beginning to recover and getting closer to pre-pandemic levels, the UK travel and tourism industry is on the road back to stable trading.

Despite the cost-of-living crisis, demand for UK holidays is strong and is the last area of discretionary spend consumers plan to cut. With the rise of virtual working, corporate travel is yet to fully return and it’s still unclear if this part of the industry will return to pre-coronavirus levels. 

Operationally, the travel industry faces increased challenges this year particularly when it comes to workforce and suppliers. With rising costs, a continuing theme and as the last part of the economy to fully reopen post-pandemic, the industry is now experiencing some of the challenges seen in other sectors for some time. This includes recruiting new talent, restructuring for growth, retaining current staff and maintaining employee morale.

As travel sector specialists, we can aid businesses with a range of services including employer solutions, accounting and tax, technology solutions and more. We can also give specific industry support to complex areas unique to travel including Tour Operator Margin Scheme (“TOMS”) arrangements, transfer pricing reviews, Civil Aviation Authority Accountants’ Reporting and ATOL renewal.

Ian Bell
Partner, head of pensions
Ian Bell
Partner, head of pensions

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