This month English Riviera businesses reported a -0.45% decrease in visitors and a +1.13% increase in turnover compared to May 2016, compared with a -0.16% decrease in visitors and +1.53% increase in turnover for the region as a whole for the same period.
As anticipated last month and compared with the strong performance during April (largely influenced by the late timing of Easter), the poorer weather experienced during the month and the run up to the general election has resulted in a small decrease in visitors, although turnover increased slightly compared with the same time last year. However, the May 2017 estimates are pretty much what could be expected and whilst they don’t suggest any significant uplift in business levels neither do they suggest any particular downward trend either.
Forward bookings for June and the main summer holiday period would appear to be relatively mixed at present, although the general election result has introduced an added element of economic uncertainty to proceedings, something which wasn’t in short supply even as things stood before 8 June. The full implications of this, and its impact on economic development, will become clearer in the coming weeks and months. However, at the current time the election result appears to have drawn the political centre of gravity towards a ‘softer’ Brexit and a reduction in the scale of austerity measures. This, coupled with the heat wave during the month of June could well mean that actual business performance will be different and provide everyone with a much better indication of how the year is shaping up.
A total sample of 99 this month (all of whom were open for the month).
Business optimism was calculated at 6.31, the same as the region as a whole.