The UK Government has launched its Modern Industrial Strategy, a comprehensive 10-year plan designed to boost economic growth, productivity, and global competitiveness.
The strategy calls for coordinated action across government departments, industry leaders, investors, and local authorities.
Rather than relying on short-term policies, the strategy outlines a decade-long programme that focuses on four pillars: investment, regulation, places and partnership.
The strategy affects a wide range of stakeholders. Businesses especially those in the IS-8 sectors stand to benefit from increased funding, targeted support, and simplified regulatory frameworks.
Regional and local governments are expected to play a central role in driving innovation and skills development in their areas, while workers will be supported through job creation, training opportunities, and a focus on improving living standards.
The strategy represents a significant shift toward more structured and sustained industrial policymaking, positioning the UK to compete more effectively on the global stage.
Commenting on the publication of the UK’s new industrial strategy, Joss Croft OBE, CEO UKinbound said: “We welcome the UK Government’s renewed focus on regional growth, skills development, and investment in the creative industries, all of which are essential pillars of a strong and sustainable inbound visitor economy. It is also encouraging to see support for business events, commitments to lowering energy costs, and investment in digital innovation, which will collectively support businesses that bring international visitors to the UK.”
Croft OBE, added: “As the UK’s fifth largest export industry, the inbound visitor economy holds significant untapped growth potential. While we had hoped to see more direct measures in the industrial strategy to support this sector, we remain optimistic that such provisions will be included in the government’s forthcoming Tourism Strategy, due to be launched later this year.”
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