Firstly I would like to echo others’ comments in
thanking the Kingdom of Saudi Arabia and His Excellency
Mr Ahmed Al-Khateeb for organising this virtual
meeting.
In the UK as in other countries, our primary focus has
been on saving lives and protecting the health of our
citizens. But we want to mitigate the impact of the
virus on all aspects of society and the economy.
Just like many other countries, Tourism is a great
contributor to our economy. In fact, it sustains about
10% of GDP.
Time does not allow me to set out in detail the full
range of Government interventions but the economic
support most relevant to the tourism and hospitality
sector largely falls into two categories.
To support businesses struggling with liquidity, the UK
Government has announced:
- Deferral of VAT payments for firms.
- £330bn worth of government backed and guaranteed
loans
- A Retail, hospitality and leisure cash grants
scheme; and a business rates relief programme and
- Protection for commercial tenants at risk of
eviction.
On employment protection we have set up:
- A Job Retention Scheme where employers can apply
for a government grant to cover 80% of workers’
salaries; and
- A scheme to support Self-Employed workers.
- In addition, we have launched an emergency fund to
support local tourism management organisations through
this period.
I am in regular discussions with the tourism industry
about what their priorities are for the recovery
period. This includes how businesses can operate while
there are still social distancing measures in place;
what further guidance is needed; and whether there is a
need for tapered support as businesses adjust.
With nearly 40 million inbound visitors per year,
International visitors play a hugely important part of
the UK visitor economy and we look forward to welcoming
visitors back when it is safe to do so.
The UK is also a key market for outbound travel. UK
citizens take 70 million overseas trips each year and
once international travel restrictions start to be
lifted, there is likely to be considerable demand for
travel. I fully support the content of the G20
declaration that when international travel resumes, it
needs to be done safely and we need to rebuild consumer
confidence.
And that is where this forum can be incredibly helpful.
I look forward to working closely with all of you as we
help this major global industry recover, and I hope to
meet you all in person as soon as circumstances allow.