Figures published by the Welsh Government in the latest “Wales Visitor Economy Profile” shows that Tourism Industries accounted for 11.8% of employment (159,000) in Wales in 2022, an increase from 151,000 in 2020 (11.3% of employment in Wales). The data also demonstrates that tourism-related industries contributed 5.1% to GVA in Wales in 2022 (£3.8 billion).
Wales remains, however, the only UK nation to not recover visitor spending figures from 2019. To ensure this vital sector recovers, FSB Wales calls on the Welsh Government to:
- Restore Business Rates Relief: Restoring business rates relief for businesses in the leisure, retail and hospitality sector to 75% at the next budget would provide much-needed financial support to many businesses in the tourism sector, enabling them to invest, create jobs, and offer even better visitor experiences.
- Enhance Transport Infrastructure: Investing in reliable and efficient transport links, including improved public transport options and strategic road upgrades, to create a seamless travel experience for visitors to all corners of Wales.
- Harness the Power of Creativity: Wales has a vibrant and growing creative industries sector which is producing music, film, television, literature, and more. These can be leveraged to strengthen the Welsh brand and develop unique tourism experiences that resonate with domestic and international visitors.
Responding to the publication of the Wales Visitor Economy Profile, Ben Francis, Policy Chair of the Federation of Small Businesses in Wales (FSB), said:
“As we can see from today’s data, tourism is a vital cornerstone of the Welsh economy and a particularly important employer in rural areas.
“Small businesses play a key role in welcoming visitors to Wales, from accommodation providers to experience operators, restaurants to craft shops.
“Tourism is re-building following the twin challenges of the pandemic and cost-of-doing business crisis, however, with visitor spend yet to return to pre-pandemic levels, more must be done to support the sector and attract visitors to Wales.”
“The Welsh Government can give the sector a strong foundation on which to re-build by restoring Business Rates Relief for the leisure, retail and hospitality sectors to 75%, empowering businesses to focus on investing for growth and creating jobs.
“Strategic investment in our transport infrastructure to create a seamless travel experience for visitors would ensure that the economic benefits are spread across Wales.
“In addition, improving the integration of our burgeoning Creative Industries sector into our branding of Wales will create a more distinctive and memorable brand for visitors.
“By implementing these recommendations, Wales can unlock the true potential of our tourism industry and help to drive our wider economic recovery.”
FSB members and directors of the tour operator Wales Beckons, Eric Holliday and Peter Rees Jones, said:
“When we bring visitors to Wales, particularly from the US and Indian markets, they fall in love with the country’s unique offering; our culture, heritage, landscape and language.
“The biggest barrier to growing our international markets is a general lack of awareness about Wales and about our unique strengths and attractions as a destination.
“We would like to see a more strategic approach to developing a distinctive Welsh brand, one that utilises the strengths of small businesses across the sector.
“There is also an opportunity to better utilise various Welsh diaspora groups, particularly in the US where trips linked to heritage and ancestry prove to be very popular.”
Ends.
About FSB
FSB is a non-profit, non-party-political organisation that offers its members a wide range of vital business services, including advice, financial expertise, support and a powerful voice heard in governments. Founded in 1974, FSB celebrates its 50th anniversary in 2024. More information is available at www.fsb.org.uk. You can follow us on X (formerly known as Twitter): @fsb_policy and on LinkedIn: FSB Westminster
Media contact
[email protected], 07967344046