Spending by international tourists in Nottinghamshire and Derbyshire reached £437 million in 2022, a 25% increase from £350 million in 2019, according to the latest figures from the Office for National Statistics. A decade earlier, the figure stood at £264 million.
Nationally, foreign tourism spending hit a record £50 billion in 2022, up 7% from 2019 and 63% higher than in 2012. In Nottinghamshire and Derbyshire, £142 million was spent on hotels and restaurants, while £21 million went towards recreation and cultural activities.
Despite the rise in spending, industry leaders warn of ongoing challenges. The Tourism Alliance cautioned that many businesses in the sector continue to struggle and said recent changes to National Insurance contributions could further impact hospitality and tourism.
Kate Nicholls, CEO of UKHospitality, urged the Government to reduce VAT for the sector, arguing that the UK’s 20% rate is among the highest in Europe and hinders competitiveness. She also called for a review of planned business rate reforms and a delay to National Insurance changes, warning that rising costs are becoming unsustainable for many hospitality businesses.
The Government has targeted 50 million inbound visitors by 2030 and plans to release a tourism growth strategy later this year.
