It’s not all plain sailing for the East Anglian tourism industry – but people’s confidence in their own business prospects is growing, Larking Gowen’s survey said. Picture: DENISE BRADLEY Archant Despite both businesses and consumers dealing with pressure on their finances, a survey has indicated that confidence in East Anglia’s tourism and leisure sector remains strong. Bethany Whymark reports. Investment is increasing among East Anglia’s powerhouse tourism sector as businesses vie to keep cash-strapped holidaymakers interested despite creeping pressure on profits, a major industry survey has revealed. The majority of businesses who answered this year’s Larking Gowen tourism and leisure business survey recorded an increase in turnover last year (62% compared with 68% in 2016) – but the number who saw a decrease rose by almost half to 19%. Around 44% saw their profit rise in 2017, down from 56% the previous year – but 51% are anticipating an increase in profit in 2018. Chris Scargill, tourism partner at Larking Gowen, believes challenges in the market will continue in 2018 as household budgets continue to be stretched by price inflation and slow wage growth. But he said businesses were still optimistic, and that new “organisational practices” could start helping them… Read full this story
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