Check If You Qualify

Third of Scottish Hospitality and Tourism Businesses Facing Possible Collapse

Sharon McDougall - 13th January 2022 - 2 minutes to read

Around a third of all hospitality and tourism businesses across Scotland are not expecting to survive beyond 2022, according to an extensive study.

Research into the issue was carried out by the Scottish Tourism Alliance (STA) in recent weeks, with the evidence uncovered highlighting the extent of financial woes within the hospitality and tourism sectors.

More than 1,300 businesses were surveyed and most said their cash reserves are either close to zero or can only cover between one and two months’ worth of financial outgoings.

Just over two thirds (68 per cent) of those asked said that they are experiencing financial difficulty and would describe their concerns about paying their bills each month as “extreme”.

Employers from across 31 Scottish regions were polled for the research between December 17th 2021 and January 10th 2022.

The prevailing view of businesses currently struggling to stay afloat across the country is that sector-specific grants are among the most helpful forms of support they can receive as they attempt to survive and recover.

Marc Crothall, the STA’s chief executive, has said that the financial support and assistance provided to businesses by the Scottish government recently has been “hugely welcome”.

However, he added that the funds involved “won’t touch the sides of what is evidently a gaping chasm between business failure and any sense of stability” as far as a huge number of tourism and hospitality operators are currently concerned.

The STA has said that while direct financial support is helpful, what small firms within the tourism and hospitality industries really need is the opportunity to do more business and to trade their way towards recovery.

“Financial support will never fully restore businesses to a more even keel in terms of viability and the ability to remain competitive,” explained Mr Crothall from the STA.

“We need to see a commitment to supporting a robust marketing campaign to stimulate the international market which our visitor economy, particularly city destinations are so reliant on.”

If you live anywhere in Scotland and are worried about your personal debt situation for any reason then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.

facebook colour icon twitter colour icon linkedin colour icon messenger colour icon whatsapp colour icon email colour icon
Sharon McDougall Square

Sharon McDougall


Other News

Debt Levels Soaring across Scotland, New Figures Show Debt Level Rising

Debt Levels Soaring across Scotland, New Figures Show

Levels of unsecured debt in Scotland increased dramatically during 2022 as the cost of living crisis took its toll on household finances.

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’ Financial Hardship

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’

Close to half a million Scots are in a position of profound financial hardship, according to a new set of figures.

Scots with Disabilities Urged to Check Eligibility for New Benefits Scottish Man In Wheelchair

Scots with Disabilities Urged to Check Eligibility for New Benefits

Disabled people in Scotland are being urged by the government to check whether they might be eligible for benefits that could help make their life a little easier.


Why Choose Us

Usp Location

5 Offices in Scotland

National Coverage

Usp House

Ask us About

Home Visits

Usp Hand Heart

Helping Scots Get

Out of Debt Since 1989

Usp Handshake

We offer an

Instant Initial Consultation

Usp Palm Wallet

We'll Help You

Lower Monthly Payments

Usp Hand Heart


Out of Debt Since 1989

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.


Useful tools

Personalised Debt Report
Usp Planner

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Debt Report
Instant Scheduled Call & WhatsApp

Instant Scheduled Call & WhatsApp

Arrange a call with an expert advisor at a time to suit you or contact our team via WhatsApp for immediate help and advice.

Arrange Callback
Find a Local Office
Usp Signpost

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

Find an Office

Our Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority

Fees and Information: There are fees associated with our services. These will be fully explained before entering into any of the personal debt solutions referred to on this website. Full details of our fees and how these are charged are fully explained to you prior to you committing to any particular service.

ICAS Insolvency Practitioners