The tourism industry will be worth 10% of GDP by 2025 according to a recent report from
Visit Britain. This figure would equate to an estimated £250bn and 4 million jobs.
A short interview from peer-to-peer lender, Folk to Folk, underlines the importance of rural tourism, in particular, to UK GDP. With the UK drawing tourists from all over the world, maintaining – and growing – a vibrant visitor economy is especially important in the face of a post-Brexit economy, when previous sources of rural funding are likely to dry up.
While visitors may come to the British countryside to enjoy its scenery or sample traditional food and drink, the trickle-down effect of the money they spend benefits a wide sector of the community. Farmers and other land managers are the linchpin of this entire system. Their importance not only as food producers but as countryside managers cannot be overstated. With this in mind, as making a living from traditional farming becomes ever more difficult, there is a strong argument for encouraging diversification. Converting barns into holiday lets might seem something of a cliché but it can form part of an overall process that allows someone to build a sustainable business.