Travel March Review: Holiday Late's Pricing, The Budget & Travel, Agent debt, UKInbound

Travel Market Life

Welcome to the Travel Monthly Review Show - March 2024 edition. In this episode we tackle:

• Some industry news including Late’s pricing, Agent debt and industry associations
• Spring Budget UK - The UK Government announced a range of measures to keep Britain financially fluid…we’ll analyse what they mean to the industry
• In our monthly feature - we’re joined by Joss Croft, CEO of UKInbound, to look at trends of the international traveller market to the UK
• Plus - we cannot end the show without our Quick Quiz

Featuring Will Plummer (CEO, Trust My Group), Claire Steiner (UK Director, Global Travel and Tourism Partnership), and James Clarke (General Manager, Travelzoo UK),

REFERENCES:

Trade predicts strong lates market but warns keen pricing ‘will be crucial’

Nearly half of Advantage agents still paying off Covid debts

NEW GLOBAL TRAVEL TECH ASSOCIATION LAUNCHES

FEATURE TOPIC UK - Spring budget - election year

Budget 2024: key points for hospitality at a glance

Chancellor cuts NI by a further 2p as part of Spring Budget

TOURISM ALLIANCE SPRING BUDGET 2024 REACTION

'MISSED OPPORTUNITY': TRAVEL LUKEWARM ON CHANCELLOR'S SPRING BUDGET

• Air- passenger Duty: Air passenger duty on business-class travel is set to rise
• Holiday lets: Completely getting rid of the Furnished Holiday Let scheme from April 2025,. This now means that mortgage interest will NOT be deductible
• Abolishing Multiple Dwelling Relief from June
• Freezing alcohol duty: The freeze on alcohol duty, which had been due to end in August, will continue until February 2025.

Employee and general business

• 2% cut in National Insurance This means employees were paying 12% in December, 10% January to March and 8% from April.
• The self-employed will pay 6% from April.
• Increasing the VAT threshold from £85,000 to £90,000 from April
• Increasing the threshold that Child Benefit

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