Newcastle is ranked in the UK’s top five favourite cities as voted for by Guardian and Observer readers in the 2013 Readers’ Travel Awards.
The ranking places us among Bath, Edinburgh, York and Cambridge; showing that despite a challenging economic climate, work to promote our destination is still having a positive impact and NewcastleGateshead is still firmly regarded as one the best places in the UK to take a city break.
An industry report released by Deloitte has outlined the central role England will play in driving the future of tourism in the UK.
Entitled Tourism: jobs and growth, the report clearly demonstrates the importance of tourism across the UK, highlighting it as the UK’s 5th largest industry which supports 3 million jobs, over 200,000 small and medium sized enterprises, and contributes £127bn to the country’s GDP (Gross Domestic Product) each year.
Tourism’s impact is amplified through the economy, so its influence is much wider than just the direct spending of tourists. Deloitte estimates the tourism GVA (Gross Value Added) multiplier to be 2.2 – meaning that for every £1,000 generated in direct tourism GVA, there is a further £1,200 that is secured elsewhere in the economy through the supply chain.
Deloitte has examined the relationship between the rise in tourism spending and job numbers. They have found that every £54,000 increase in spending in the sector creates a new tourism job in the UK. The report also shows the North East as having seen a growth of more than 5% in tourism employment since the previous Deloitte report in 2010.
The tourism economy is forecast to be the 5th fastest growing sector with spending expected to stand at £235 billion by 2025. Inbound tourism will continue to be the fastest growing tourism sector – with spend by international visitors forecast to grow by over 6% a year. The value of inbound tourism is forecast to grow from over £21bn in 2013 to £57bn by 2025, with the UK seeing an international tourism balance of payments surplus within a decade, almost forty years since the UK last reported a surplus.
The shopping experience in NewcastleGateshead has been given a welcome boost as we welcome top brands to Newcastle’s newly-refurbished Monument Mall.
Hugo Boss, The White Company, Jack Wills and luxury jeweller Rox are among the stores that have made their home at the site which has been transformed under a £15m refurbishment programme.
Designer brand Hugo Boss has opened a 450m2 (4,900ft2) store, offering its full range of womenswear, menswear, footwear and accessories. Home and fashion brand The White Company is also taking space, with a 420m2 (4500ft2) store. The store will showcase all ranges, including daywear, nightwear, fragrance and homeware, and follows the brand’s first store opening in Scotland at Hammerson’s Union Square shopping centre in July.
Both are the brands’ first standalone stores in Newcastle, having previously only been available in the city’s Fenwick store.
The assistant director for retail leasing at Hammerson, Richard Crowther, said: “Our intention when refurbishing Monument Mall was to create an aspirational retail mix in the heart of the city. The fact that two high end brands will open their first standalone stores in Newcastle affirms the scheme’s status as an influential retail destination.”
Monument Mall has undergone a £15m development scheme to provide an additional 14,000 sq ft of retail space, featuring double height shop fronts. The scheme includes eight new stores on Blackett Street, two major units on Northumberland Street, and a Sainsbury’s store on the concourse level of the Metro at lower ground level.