The research from Barclays suggests that millions of Britons are planning staycations in 2021. The total spending on domestic holidays this year is anticipated to reach £31 billion, with 23 million Britons planning at least one staycation, the study concluded.
A Barclays spokesman said: “Billion-pound windfalls will be enjoyed by the 10 most popular holiday destinations, with top-ranked Cornwall set to welcome £1.7 billion worth of staycation business, while the hotels, B&Bs and tourism economies in the Lake District, Devon and Yorkshire are also likely to feel the benefit.”
According to the study, Yorkshire will secure a windfall of £1.462 billion, placing it fourth on the list of the regions which are set to benefit the most from staycations, behind Cornwall, the Lake District and Devon.
Yorkshire is ranked above London, which is fifth on the list with £1.366 billion and North Wales which is sixth with £1.346 billion.
The Barclays study found that the pandemic has encouraged people to support the local economy, with 48 per cent of respondents planning trips that will allow them to explore areas in the UK which have large numbers of small independent companies.
Barclays is encouraging people to get to ‘Know Your Nation’ and explore the British Isles, with the bank finding that the average UK resident has visited more places abroad than domestically.
Hannah Bernard, Head of Business Banking at Barclays, said: “We’ve been supporting thousands of hospitality and tourism businesses throughout the pandemic, signposting them to grants, helping them with marketing their services even when the shutters have been down, and providing millions of pounds worth of funds through the Government lending schemes.
“We’ve seen many small businesses adapting their premises to get ready to meet the needs of holidaymakers this summer.
“The investments that they have made will hopefully be rewarded as millions of Brits support the nation’s hotels, restaurants and shops, providing local economies with a welcome boost.”
Steve Double MP, the chair of the All-Party Parliamentary Group for Hospitality and Tourism, said: “I know local businesses are eagerly preparing to reopen again and looking forward to making the most of the peak season to bounce back from the pandemic.”
The research was conducted by Opinium for Barclays in late April.
The trend towards staycations is already creating jobs in Yorkshire. The UK’s largest caravan manufacturer is hiring more than 100 production workers to meet surging demand.
Hull-based Willerby Holiday Homes, which is celebrating its 75th anniversary, said its order book is full until mid-2022, as more Britons decide to go on holiday in the UK.
The company is opening a new production line to meet the demand for “prestige” holiday homes, with the new workers bringing the total employed by the company to more than 1,100.
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