Business News Round Up (13/08/2021)
Hospitality sector makes ‘significant contribution’ to UK economy growth
The hospitality sector has made a ‘significant contribution’ to the latest Office of National Statistics (ONS) figures that showed that the UK economy grew by 4.8% in Q2 2021 as coronavirus restrictions were lifted. Trade association UKHospitality said that further analysis as part of the UKHospitality (UKH) Quarterly Tracker, produced by CGA, shows the significant contribution made by the sector, which was responsible for 40% of the UK’s total economic growth from Q1 to Q2 2021. “These figures not only show the importance of the hospitality sector to the UK economy, even in the severely restricted and beleaguered state it was in during the second quarter of this year, but also demonstrate its real potential to power a wider economic recovery now trading restrictions have finally been eased after almost 18 months,” said UKH chief executive Kate Nicholls.
Survey highlights tentative steps towards circular economy within Scotland’s build environment
There is wide acceptance of the benefits of adopting circular economy business models with Scotland’s construction sector, but the majority of companies do not have an implementation policy in place, according to a new survey released by Insight Futures and Shaw Contract. Conducted through interviews with key stakeholders during May and July, the purpose of the survey was to establish current views of the value of the circular economy and its wider adoption in the built environment. A key objective was to identify the motivations and barriers for the adoption of circular business models including how to create, deliver and capture value to companies. It also looked to explore the state of industry readiness in light of impending policy, regulation, and taxation change.
Manchester Airport passenger numbers still 90% down on 2019 despite lockdown lifting
The boss of Manchester Airport says the country’s aviation sector is recovering at half the rate of the rest of Europe after it reported passenger numbers in July were down almost 90% compared with 2019. Karen Smart, managing director of the airport, said that with three weeks of the peak summer season remaining, the requirement for passengers to pay for PCR tests, even when fully vaccinated and returning from low-risk destinations, was “out of step” with the rest of Europe and holding back the recovery of UK airports and airlines. Publishing passenger figures for July, the data showed levels were 85.9% down on July 2019, when the airport served 3,178,505 passengers, compared to just 447,954 in the same month this year. The airport said that since the review of the traffic light system on August 4 – which saw more countries added to the green and amber lists – volumes have picked up slightly but remain significantly below pre-pandemic levels.
A massive showcase: what the summit means for industry
The forthcoming arrival of Cop26 will be significant for industries and organisations across Scotland. Here we share a snapshot of views from different sectors. The Industrial Biotechnology Innovation Centre (IBioIC) was established in 2014 to stimulate growth of the sector in Scotland. It facilitates collaborations, provides scale-up capabilities, creates networks, and develops skills. It says the industrial biotechnology (IB) sector makes an important contribution to the Scottish economy, while reducing environmental impact. It adds that the growth of IB will help Scotland transition from being an economy largely based on fossil fuels to a more modern, cleaner model, fit for the future. The IBioIC will be involved with the UK showcase at Cop26, led by the Industrial Biotechnology Leadership Forum, and will be hosting a range of fringe events leading up to and during the conference.