The nation has spoken, and we have to live with the outcome.
The great and good have already called for stability and of course we at the Institute of Hospitality echo that sentiment. The hospitality industry has demonstrated its’ resilience time and again, and will, I am sure, do so now.
In the short term, hospitality in the UK may prosper as the weaker pound makes us a more affordable destination, and more Brits may choose to stay at home – rain or shine.
Longer term, a major concern has to be for our UK workforce given that we have a history of recruiting hospitality staff from Europe.
Most importantly, it is essential that the UK Government and those involved in negotiating our future place in the world bear hospitality in mind. In terms of numbers employed, tax take and contribution to GDP ours is a major industry – the 4th largest by employment terms in the UK. In many parts of the UK hospitality is the lifeblood of the regional economy. It is vital that the impact of new trade arrangements are considered by those at the negotiating table.
Our members who work internationally will be watching the UK situation unfold with interest, and we will be monitoring the reaction both from those within the EU and those outside and reporting back to members. In the meantime, we remain optimistic and prepared to undertake the task at hand – educating and supporting the development of world class hospitality managers and their businesses.