Fastest Growing Industries in the UK by Revenue Growth (%) in 2022

1. Festivals in the UK

2022-2023 Revenue Growth: 848.0%

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 a growing revenue stream 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 2022-23, industry revenue is forecast to rise at a compound annual rate of 2.6% to £3.2 billion. This includes a sharp 756.3% rise in... Learn More

2. Casinos in the UK

2022-2023 Revenue Growth: 480.2%

Industry firms own and operate casinos that offer a wide range of gambling activities, including card games, slot machines and roulette tables. Casino operators also generate revenue from amenities such as food, drink and accommodation. Industry revenue is forecast to decline at a compound annual rate of 7.1% over the five years through 2022-23 to £1.1 billion. Prior to the COVID-19 (coronavirus) pandemic, the industry was already subject to intense competition from online casino operators. According to the Gambling Commission, remote casinos' gross gambling yield was 236.6% higher than that of bricks-and-mortar casinos in 2014-15, and in 2019-20, their yield... Learn More

3. Airports in the UK

2022-2023 Revenue Growth: 306.8%

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 2022-23, 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

4. Cinemas in the UK

2022-2023 Revenue Growth: 276.3%

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 79.1% of industry revenue in 2022-23.

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

5. Budget Airlines in the UK

2022-2023 Revenue Growth: 204.8%

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, consisting of only four operators. Demand for industry services is determined by external factors such as business and consumer confidence, household disposable income, and outbound and international tourist numbers. Shocks such as natural disasters, terrorist attacks and disease outbreaks also affect demand.

Industry... Learn More

6. Nightclubs in the UK

2022-2023 Revenue Growth: 176.8%

The Nightclubs industry has faced difficult operating conditions over the past five years as competition has increased. Late-night revellers can stay late in pubs or bars, which offer a wider selection of drinks, lower prices and a more relaxed atmosphere. Increased demand for these industries has contributed to the nightclub industry's long-term decline. Enterprise numbers are forecast to fall at a compound annual rate of 5.6% over the five years through 2022-23, as operators have struggled to respond to new challenges from regulation, licensing, planning, business rates, policing and COVID-19 (coronavirus). Many consumers purchase cheap alcohol from supermarkets to drink... Learn More

7. Saunas & Solariums in the UK

2022-2023 Revenue Growth: 170.2%

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

8. Urban Passenger Rail Operations in the UK

2022-2023 Revenue Growth: 167.6%

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

9. Residential RV & Trailer Park Operators in the UK

2022-2023 Revenue Growth: 167.5%

Operators in the industry act as landlords for residential RV and trailer park sites, performing on-site community operating and management functions. The steep fall in the value of the pound following the EU referendum made the United Kingdom a more affordable destination for domestic holidaymakers, stirring a shift towards staycations, which has strongly supported revenue growth over the past five-year period. Nevertheless, over the five years through 2021-22, industry revenue is forecast to decline at a compound annual rate of 6.3% to £2.3 billion. This is largely owing to revenue decline of 66.3% in 2020-21 that can be attributed to the... Learn More

10. Catering Services in the UK

2022-2023 Revenue Growth: 161.5%

Operators in the Catering Services industry provide catering for one-off events such as weddings, corporate functions and private parties. A fall in the marriage rate is expected to have weighed on demand for private events over the past five years. The COVID-19 (coronavirus) pandemic is expected to have significantly weighed on revenue in 2020-21 with most events being cancelled or postponed. Over the five years through 2022-23, industry revenue is expected to contract at a compound annual rate of 2.2%, including revenue growth of 1.4% in the current year to £1.4 billion.

The industry is made up of a high number... Learn More