Happy Hour- Happy Economy

With COVID restrictions lifted, UK hospitality sectors saw a growth rate of 0.4% (GDP) in August, 2021. Festivals, bars and restaurants welcomed back a thirsty public and hospitality businesses were keen to start work again. The UK economy saw a business boom in August, as many Brits made stay-cation plans, producing a welcomed growth in service sector statistics. Britain’s economy shrank by 9.7% in 2020, as the coronavirus pandemic crushed the economy (Office for National Statistics), the biggest annual decline in 99 years.

Kitty Ussher, chief economist at the Institute of Directors, said: “August was a strong month for the UK Economy, with the easing of restrictions and staycation boom causing a welcome growth in the service sector when compared with the previous month.” Highlighting the welcomed return of customers, the hospitality industry influenced the UK economy in an extremely positive way. Partnered with fewer people visiting GP surgeries and less testing and tracing, the economy saw a rise as the public headed to bars, restaurants and festivals. A boost in moral, and a boost for the economy- The ability to socialise with friends in a public space was, and is welcomed by many.

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