Hospitality sector could be the cornerstone of Scotland's economic growth
Employing over 200,000 people across the country, Scotland’s hospitality sector plays an important role in the economy and attracts significant domestic and international spending in central belt, rural and coastal communities. But increasing financial pressures from business rates and rising National Insurance Contributions (NICs) is beginning to take a toll on the sector, leading to slower GVA (Gross Value Added) growth over the years.
As a sector shaped by seasonality, its ability to adapt to economic and social trends has made it resilient to change. With its connections to travel, food and drink and transport, it could have a positive ripple effect on the wider economy and, if not held back, has the potential to be a key driver of jobs, investment and tourism. However, to unlock growth, the Government must recognise its importance and implement supportive........
© Herald Scotland
