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Hospitality and tourism to continue to be hit by economy
The tourism and hospitality industries are to continue to be hit by the economic downturn, according to KPMG, the financial services firm.
Despite saying that, on the whole, the number of companies going into insolvency is set to drop, KMPG said that the leisure industry may be hit hard in September.
Richard Hathway, head of travel, leisure and tourism at KPMG, said: “Throughout the downturn, leisure spend has suffered with hotels and restaurants in particular feeling the pressure.
“The next quarter will be critical for many UK leisure businesses. Their hopes for the summer months will rest on people choosing to holiday in the UK, or stay at home and spend more of their leisure pound on meals out and local entertainment.
“The period between summer and Christmas is traditionally slower and this year will pose even more challenges than normal, so making the most of summer trading will be paramount.”