Fastest Declining Industries in the UK by Revenue Growth (%) in 2021

1. Festivals in the UK

2021-2022 Revenue Growth: -93.8%

Operators in the Festivals industry organise festivals and live music events in venues throughout the United Kingdom. The events derive revenue primarily from ticketing, but also from a variety of on-site services, such as food and drink sales, which have been an increasing source of industry revenue as operators have expanded their services. The industry also includes the activities of agents, promotors and other production services involved in the organisation of live music events.

Over the five years through 2020-21, industry revenue is forecast to fall at a compound annual rate of 34.9% to £186.2 million. This is primarily due to... Learn More

2. Scheduled Passenger Air Transport in the UK

2021-2022 Revenue Growth: -89.2%

The Scheduled Passenger Air Transport industry includes all British companies that transport passengers on domestic or international routes on regular timetables. Passenger air travel is largely considered to be discretionary and industry performance is influenced by consumer and business confidence, the level of disposable income and airfares. Although passenger numbers tend to remain fairly robust in the face of weak economic conditions, changes in the propensity of consumers to spend on discretionary items has a more profound effect on revenue, as price competition intensifies during times of low consumer confidence.

Industry revenue recovered from a post EU referendum decline to record... Learn More

3. Conference Centres Letting & Operating in the UK

2021-2022 Revenue Growth: -85.9%

Operators in the Conference Centres Letting and Operating industry own and operate purpose-built conference centres, exhibition space and related venues, either independently or on behalf of a third party. Operators hire out venue space to downstream clients for the purpose of hosting and orchestrating out-of-house business events. They can also be responsible for procuring ancillary services, such as catering and concierge services, whether they provide these services internally or outsource them to third-party providers. Almost exclusively as a result of income dropping sharply during the COVID-19 (coronavirus) pandemic, revenue is forecast to decline at a compound annual rate of... Learn More

4. Cinemas in the UK

2021-2022 Revenue Growth: -77.7%

The Cinemas industry includes all operators that show films in designated film-projection facilities. Most of these facilities are indoors, but some are open-air. The majority of industry revenue is generated from box office sales, with blockbuster films contributing the most to this product segment. Food and beverage sales and screen advertising are also important revenue streams for industry operators. The industry is highly concentrated, with the top four industry players expected to account for 85.6% of industry revenue in 2020-21.

High cinema admissions and a strong film slate have supported industry performance over the past five years. According to the UK... Learn More

5. Urban Passenger Rail Operations in the UK

2021-2022 Revenue Growth: -72.3%

The Urban Passenger Rail Operations industry includes businesses that operate passenger rail networks through urban, suburban or metropolitan areas. London is the largest market for industry services, accounting for more than 90% of passengers. Consequently, Transport for London (TfL) dominates the industry through its ownership of the London Underground, the Docklands Light Railway and the London Overground. Industry performance is largely contingent on the number of passengers using these services, which is determined by several demographic and social factors, including the size of the urban population, the rate of employment and competition from alternative forms of transport.

Industry revenue is expected... Learn More

6. Caravan & Camping Sites in the UK

2021-2022 Revenue Growth: -69.5%

Operators in the Caravan and Camping Sites industry provide short-term accommodation for guests in campsites, caravan sites and static caravan parks. Since the EU referendum, the value of the pound has fallen, making the United Kingdom a more affordable destination for international and domestic holidaymakers. The shift towards staycations supported revenue growth over the first half of the period. Over the five years through 2020-21, industry revenue is forecast to contract at a compound annual rate of 21.1% to £967.9 million. This is largely because revenue is forecast to drop by 70.1% in the current year as a result of... Learn More

7. Sports Facilities in the UK

2021-2022 Revenue Growth: -66.2%

Firms within the Sports Facilities industry operate indoor or outdoor sports facilities that are used to carry out the organisation and operation of sports events for professionals, amateurs or the general public. Larger facilities may also be used to host other events such as music concerts. Revenue is generated by the leasing or hiring of facilities from owners or operators. Various sporting events hosted in the United Kingdom over the past five years have helped to boost industry revenue. Revenue rose dramatically in 2015-16 and 2016-17 following the Rio Olympics in 2016, which increased sports participation in the United Kingdom.

Following... Learn More

8. Non-Scheduled Passenger Air Transport in the UK

2021-2022 Revenue Growth: -62.2%

The Non-Scheduled Passenger Air Transport industry comprises businesses transporting passengers by helicopter or aeroplane on a chartered basis. The industry focuses on flights operated by charter airlines with holiday destinations and is dominated by one player, TUI Airways, which is involved in other areas of the travel industry, such as the provision of all-inclusive tours. Although the industry may be perceived as providing tailored travel services for the wealthy, the bulk of revenue is generated by transporting customers to holiday destinations as part of a travel package. Industry demand has fluctuated significantly during the past five-year period, but charter passenger... Learn More

9. Budget Airlines in the UK

2021-2022 Revenue Growth: -62.2%

The Budget Airlines industry includes all British airlines that are considered as no-frills airlines, meaning that they offer low ticket fares by eliminating many traditional passenger services. Services such as baggage allowance and on-board meals are not included in ticket prices, but are instead offered as ancillary services, where consumers purchase them separately. The industry is highly concentrated, with the top four operators accounting for 99.8% of revenue. Demand for industry services is determined by factors, including business and consumer confidence, household disposable income, and outbound and international tourist numbers. Shocks such as natural disasters, terrorist attacks and diseases also... Learn More

10. Holiday Accommodation in the UK

2021-2022 Revenue Growth: -62.1%

Operators in the Holiday Accommodation industry provide accommodation in the form of cottages, lodges and self-catered apartments, and operate hostels, guesthouses, and holiday centres and villages. The industry has benefited from favourable conditions for most of the past five-year period, and has broadly followed trends in domestic tourism and fluctuations in weather conditions. The staycation trend that emerged following the UK's vote to leave the European Union has benefited demand over the period. Moreover, falling consumer confidence has discouraged UK consumers from travelling abroad. In addition, the weak pound since 2016-17 made the United Kingdom a more affordable holiday destination... Learn More