Britain’s £9bn booze export growth as French and Germans get wasted on a UK spirit
BRITAIN is experiencing an enormous booze export growth as a result of French and Germans are hooked on our whisky.
The worth of UK drinks exports elevated by greater than £1 billion previously yr, new analysis suggests. It jumped from £8.3 billion in 2021/22 to £9.4 billion within the 12 months to July this yr, stated enterprise advisers Hazlewoods.
Spirits are enjoying a key position in rising drinks exports, with continued demand for whisky from conventional markets in EU international locations, together with France, Germany, Spain and Poland, in addition to India and Singapore, the report stated.
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Sales of different drinks, resembling beer, to the EU have suffered due to Brexit-related crimson tape, the report added. Rebecca Copping from Hazlewoods stated: “British heritage manufacturers have efficiently positioned themselves as a luxurious within the worldwide drinks market.
“A big chunk of this success is because of younger, rich customers buying high quality drinks manufacturers that signify standing and success.
“Despite volatility in the economy and high interest rates around much of the globe, consumer spend on luxury goods has held up well, although sales growth of luxury goods is slowing.
“This post-Covid boom in luxury goods sales certainly had a hand in increasing UK drinks exports. “Now the industry is focused on long-term growth, reaching bigger, untapped markets. The UK Government can support that by delivering trade agreements that lower barriers to expansion.”
The UK booze trade is ready for one more enhance as British pubs might be set for a later shut at subsequent yr’s Euro 2024 – however there’s a catch.
A brief change to licencing hours might see the nation’s bars and pubs allowed to remain open till 1am, two hours later than the standard time of 11pm. On Tuesday (November 28) a public session was kicked off wanting into the scheme.
It will discover whether or not or not hours needs to be prolonged by two hours, however solely underneath the situation that England makes it not less than the semi-finals of the match. In latest years, hours have been prolonged for the King’s Coronation weekend and the Euro 2020 last.
