Good news for hospitality
BRITISH hoteliers, publicans and restaurateurs are set to create more jobs and splash cash on new technology on rising economic hopes.
According to business group CBI consumer service firms such as hotels and pubs are set to expand over the next 12 months at the highest level for three years. As well as creating new jobs more firms are looking to invest in replacing old equipment, reaching new customers and providing new services.
However Anna Leach, CBI head of economic analysis, warned: “The more bullish tone from consumer firms is encouraging but households are likely to remain cautious given the expected further squeezes on their budgets during 2013.”
The more bullish tone from consumer firms is encouraging but households are likely to remain cautious given the expected further squeezes on their budgets during 2013
It added that profits in the business and professional services sector, such as accountancy and marketing firms, will remain under pressure as business prices continue to fall and employment costs rise.