Staycationers to triple spending this weekend
BRITAIN’S leisure industry is expecting a bumper weekend, with figures showing that consumers are likely to spend three times more than they did on the last August Bank Holiday weekend.
Data from payment systems operator Epos Now covering retailers and hospitality firms across the UK – such as pubs and restaurants – show they were stocking up ahead of the long weekend, expected to be one of the busiest of the year. They also show hotel bookings to be up.
The recent good weather combined with more foreign tourists and Britons staying in the UK, means sales are expected to be ‘at least 210 per cent’ higher according to Epos Now’s data. Last week, The Mail on Sunday revealed that an extra £2.4billion will be spent by domestic holidaymakers this year compared to last, as the plunging pound and fears of terrorism have led to a boom in staycations.
Epos figures show that firms in Brighton, seen as one of the big winners of the staycation effect, expect a 275 per cent rise in sales, while firms in Skegness, Lincolnshire, are even more optimistic, with takings set to soar 400 per cent.
Advance bookings at seaside hotels are 93 per cent higher than on a normal summer weekend, compared to 67 per cent last August Bank Holiday.
Epos boss Jacyn Heavens said: ‘The hospitality industry is gearing up for one of the most profitable weekends of the summer season. At a time like this, it’s crucial for firms to keep a close eye on stock levels to ensure they are prepared for a weekend of high sales and plenty of profit.’
A survey by Visit England last week revealed that more than 5million Britons were planning an overnight stay in the UK for the August Bank Holiday weekend this year, generating £1.25billion for the economy.