The cost-of-living crisis and a widespread lack of staff could stifle a potentially multi-billion pound economic recovery of the South West’s hospitality and leisure sector, a report has warned.
A new study has found the release of pent-up consumer demand for holidays and experiences following the pandemic has given a boost to the industry, which was devastated by national lockdown restrictions.
The research from Barclays Corporate Banking found 90% of businesses in the region are confident of growth this year, and are predicting an average 30% uplift in revenue compared with pre-pandemic levels.
