London set to benefit from rise of UK 'staycationers'

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London set to benefit from rise of UK 'staycationers'
21st May 2014

The capital is set to benefit from the rise of UK ‘staycationers’ - people choosing to holiday in the UK instead of travelling abroad. 

Overall spending by UK domestic tourists will surge by 25 per cent to more than £108 billion by 2017, a survey from Barclays predicts.

But as much as 16.2 per cent of this total spending will be in London compared to just three per cent likely to be spent in north east England and 5.8 per cent in the West Midlands. 

Barclays said the hospitality and leisure sectors will benefit most from the trend towards staycationing, with spending in pubs and restaurants predicted to rise by 26 per cent to £37 billion as more people dine out.

Hotels and B&B spending is set to increase by 25 per cent to £17 billion, with leisure attractions going up 27 per cent to £15 billion and shopping rising 23 per cent to £15.6 billion.

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