Scale & significance to UK economy & consumer spending in the UK on leisure product and services.
Adam Derrington
Scale & significance to UK economy & consumer spending
in the UK on leisure product and services
Any industry such as the leisure industry has an impact on a national economy in that it circulates money and employs people who in turn spend their wages. Knowledge of this impact is not just of statistical interest but has real practical importance for three reasons.
- It identifies where there are shortages or over-supply of provision. This allows the private sector to seek out new markets, while other sectors and facilities. For example, pub-drinking sales are declining so the breweries are turning to bars and clubs. In the sportswear industry manufacturers know that the market is turning away from trainers to outdoor sports footwear.
- It supports the case for the importance of the industry and its impact on the economy. Most grant aid decisions involve consideration of the effect of a sector or project on the local economy. In deprived areas of the country leisure has been used both to reduce unemployment and increase income. One of the major claims of the countryside alliance in their support for the minority leisure pursuit of fox hunting is that the sport supports a huge rural economy.
- It allows us to estimate the needs for the supply of labour and the training required to improve the standards of service to the industry. Most national training organisations are currently running surveys to measure the workforce so that they can plan training courses.