Hospitality sector boosts economy

THE hospitality industry plays a “critical” role in fighting youth unemployment and is “essential” for jobs and growth and the health of other sectors, a new report has claimed.

The Europe-wide study by business consultancy firm EY (formerly Ernst & Young) said Europe’s hospitality sector added one trillion Euro to the EU economy in 2010, equal to 8.1% of the EU’s total economic output. Hospitality-related output in the UK topped €146 billion, the report said.