Ann Corrigan, deputy chief executive at the Institute of Hospitality, told Event the industry does "not receive adequate recognition" for the wealth it creates for the country.
"The hospitality sector is like an iceberg – what is generally recognised as hospitality is the little bit at the top which will be on show to the world later this year!"
"Some would say that 7% is an underestimate and that this figure could be as high as 8.5%," she added. "The industry covers services offered in locations as diverse as pharmaceutical manufacturing, world class conference centres, youth hostels and hospitals, all of which should be demanding better qualified and customer focussed individuals to meet the ever increasing demand for staff."
Jonathan Byrne, president of the International Special Event Society, said the figure is a "strong indicator" of how important the events and hospitality sector is to the UK economy. "The government needs to realise that alongside the financial sector, the hospitality industry is an area it needs to invest in to support economic growth. It’s time for this sector to stand up and make its voice heard," he said
Will Broome, CEO of London Launch, said that despite having worked in the industry for more than 10 years, he was still astonished to realise how important the sector is to the UK economy.
He said: "In the last recession, events and hospitality was one of the first things to be canned, but now events are seen as a central touch point in companies growth and marketing strategies."
What’s your reaction to this news? How can the sector learn to shout loader about its importance to this country’s financial recovery? and leave a comment below.