The number of self-employed people in the UK recreational activities sector has seen notable fluctuations over the past years. Between 2013 and 2018, there was a significant upward trend, peaking in 2018 with an 11.27% year-on-year growth. However, post-2018, the sector faced a mixed scenario with minor declines and modest recoveries. In 2023, the sector stood at 167.3 thousand units, reflecting a slight recovery with a 1.75% year-on-year increase.
Looking forward to the forecast period from 2024 to 2028, the year-on-year variations indicate a steady, albeit moderate, growth trend. The Compound Annual Growth Rate (CAGR) for this period is projected at 1.26%, suggesting a stable expansion leading up to 181.08 thousand units by 2028.
Future trends to watch for:
- Technological advancements in recreational activities and their impact on self-employment.
- Policy changes aimed at fostering entrepreneurship within this sector.
- Shifts in consumer preferences towards wellness and outdoor activities.
