New research from the Centre for Economics and Business Research has claimed that the UK is falling behind its European counterparts in the tourism sector.

A report from the think-tank explained: "In real terms, VisitBritain’s spending forecast for 2024 is eight percent lower than the equivalent figure for 2019, equivalent to a £2.8 billion hole in tourist spending.

"Though this is only a fraction of total expenditure, it still represents a cost to the economy and one with disproportionate impacts on certain sectors, notably those of a consumer-facing nature, such as hospitality, travel and retail."

The think-tank noted that the British tourism industry is still trying to recover from the COVID-19 pandemic and its residual impact.

The report read: "This point is supported by the fact that the number of UK outbound tourist visits is also down relative to 2019, while tourist volumes globally are expected to remain down by three percent this year, according to the UN Tourism Barometer."

By contrast, the Centre for Economics and Business Research believes the tourism market in mainland Europe is set to return to pre-pandemic levels.

The think-tank said: "Expected tourist volumes for Europe as a whole, covering the UK’s most direct competitors for international visitors, show a different view. Across the continent, visitor numbers are projected to return to growth relative to pre-pandemic this year.

"This suggests that that the UK is falling behind its closest competitors as a tourist destination and that there must be some country-specific factors at play."