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 2021-22, industry revenue is forecast to fall at a compound annual rate of 5.6% to £1.8 billion. This includes a 862% rise... Learn More

2. Scheduled Passenger Air Transport in the UK

2021-2022 Revenue Growth: -89.2%

The 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 remain fairly robust during weak economic conditions, changes in consumers' propensity to spend on discretionary items has a more profound effect on revenue, as price competition intensifies when consumer confidence is low.

Industry revenue recovered from a post-EU referendum decline, growing during the two years through 2018-19, as strengthening demand for low-cost carriers offset the... Learn More

3. Nightclubs in the UK

2021-2022 Revenue Growth: -87.5%

The Nightclubs industry has faced difficult operating conditions over the past five years as competition has increased. Late-night revellers can stay up late in pubs or bars, with many offering a wider selection of drinks, lower prices and a more relaxed atmosphere. This has contributed to the industry's long-term decline. A large number of nightclubs have closed over the past decade, as operators have struggled to respond to new challenges from regulation, licensing, planning, business rates and policing. Many consumers purchase cheap alcohol from supermarkets to drink before going out, rather than buying more expensive drinks in industry establishments, a... Learn More

4. 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

5. Airports in the UK

2021-2022 Revenue Growth: -80.8%

Demand for the Airports industry is primarily influenced by trends in domestic and international air travel, as operators provide support activities to both passenger and freight transport operators. Airports have increasingly diversified their sources of revenue, expanding into other commercial markets such as retail concessions, other property and car parking facilities. Industry revenue is expected to be very highly volatile over the five years through 2021-22, as growing demand for airlines over the first half of the period boosted demand for support services provided by airports. However, disruption from the COVID-19 (coronavirus) pandemic offset this growth, causing revenue to contract... Learn More

6. Non-Scheduled Passenger Air Transport in the UK

2021-2022 Revenue Growth: -80.8%

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

7. 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 82.3% of industry revenue in 2021-22.

High cinema admissions and a strong film slate have supported industry performance over the majority of the past five years. The... Learn More

8. Sea & Coastal Passenger Water Transport in the UK

2021-2022 Revenue Growth: -73.4%

The Sea and Coastal Passenger Water Transport industry offers a range of services, including cruises, ferry services, and fishing charters. The industry is therefore reliant on domestic and international tourism. Operators' fortunes have been mixed over the past five years, with considerable variance between different market segments. Cruise ships have performed robustly over most of the period and have expanded by marketing value, such as all-inclusive holidays. However, demand for international ferry services has wavered as a result of intense competition from air and rail transport. Travel restrictions implemented in response to the COVID-19 (coronavirus) outbreak have cause passenger numbers... Learn More

9. Saunas & Solariums in the UK

2021-2022 Revenue Growth: -72.8%

Industry revenue is expected to contract at a compound annual rate of 9.9% over the five years through 2021-22 to £335.8 million. The Saunas and Solariums industry has been heavily affected by the UK's decision to leave the European Union and the COVID-19 (coronavirus) pandemic. The industry benefited from an influx of international tourists prior to the start of the period in 2016-17, as travelling to the United Kingdom became cheaper for overseas residents following the steep depreciation of the pound during the year. Nevertheless, weak consumer confidence and a declining number of total visitor nights have weighed on industry... Learn More

10. 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