Gharieni GmbH
Gharieni GmbH
Gharieni GmbH
 
EMPLOYERS: POST A JOB
Free ezines & magazines
Jobs News Video Training Products Magazines Spa Business spa-kit Handbook What's on Advertise Subscribe
Catalogue gallery
More catalogues
Diary dates
Powered by leisurediary.com
19-22 Jan 2023
Carrousel du Louvre, Paris, France
31 Jan - 02 Feb 2023
Coventry Building Society Arena, Coventry, United Kingdom
05-06 Mar 2023
Excel exhibition and conference centre , London, United Kingdom
14-15 Mar 2023
RAI Exhibition & Conference Centre, Amsterdam, Netherlands
16-20 Mar 2023
Fair District, Bologna, Italy
26-29 Mar 2023
Chateau Elan Winery & Resort, Braselton, United States
31 Mar - 02 Apr 2023
Düsseldorf Exhibition Centre, Düsseldorf, Germany
03-06 Apr 2023
La Cantera Resort & Spa, San Antonio, United States
Health and wellbeing are in retreat, stalling the UK’s economy says former Bank of England economist
By Frances Marcellin 14 Nov 2022
Declining health is impacting the UK's economic growth Credit: Shutterstock/Agenturfotografin
Andy Haldane, former chief economist at the Bank of England, says declining health is hindering the UK's economic growth
Economic activity in the UK has decreased by 700,000 people since 2019 due to
Having been an accelerator of wellbeing for the last 200 years, health is now serving as a brake in the rise of growth and wellbeing of our citizens, said Haldane
The UK is forecast to be the only developed economy to have a workforce smaller than before the pandemic by Q1 2023
The declining health of Britons is stalling the nation’s economic growth. This is the key message from Andy Haldane, chief executive of the Royal Society of Arts (RSA) and former chief economist at the Bank of England, who spoke at The Health Foundation thinktank's annual Real challenge lecture.

“We’re in a situation for the first time, probably since the Industrial Revolution, where health and wellbeing are in retreat,” said Haldane. Having been an accelerator of wellbeing for the last 200 years, health is now serving as a brake in the rise of growth and wellbeing of our citizens.”

Haldane said that although the workforce was already shrinking before the pandemic, a further reduction in the British workforce, as a result of COVID-19, is also a critical factor.

According to The Health Foundation, economic activity in the UK has decreased by 700,000 people since before the pandemic. Around 300,000 50-69-year-olds are most at risk of never returning to work and out of 3.5m active 50-69-year-olds in Q2 of 2022, 1.6m self-reported ill health as their main reason for not working.

“It should come as no surprise that we, therefore, see macroeconomic headwinds such as a record number of unfilled vacancies,” said Haldane. “We haven’t got enough people.”

Haldane also pointed to the government’s lack of investment in healthcare. “When considering spending on healthcare systems, at least by G7 comparisons, the UK sits towards the bottom of the pack,” he said.

In 2019, the UK spent £177bn on healthcare (£2,647 per person), which was less than the G7 average (£3,523). In comparison, France’s healthcare spending was £3,308 per head and Germany’s £4,131 per head.

UK Government expenditure on healthcare, including spending by the NHS, local authorities and other public bodies financing healthcare, increased to £213.4bn in 2020, equating to £3,181 per person.

The UK has seen its employment rate fall over the last two and a half years while other major economies have seen employment rise. It is currently at 75.5 per cent having dropped from 76.1 per cent in 2019.

Outside Latin America, only the UK, Iceland, Switzerland, Latvia and the US have seen employment fall since 2019, with most other EU countries increasing by an average of 2 per cent since the pandemic began.

Haldane did not comment on the impact of Brexit.

Liz Terry, editor of HCM, said: "We've been arguing for sometime that the health and fitness and physical activity sectors in the UK should enjoy cross-portfolio support from both the Department for Business, Energy and Industrial Strategy, as well as the Department for Culture, Media and Sport. This statement from Andy Haldane – one of the world's top economists – shows why this is so vital.

"Having a fit and healthy workforce is critical to driving economic success and if UK government acknowledged this and really got behind the physical activity sector, it would make a huge difference to the economic output of the nation," said Terry.

"As we await the budget this week, we call on the government to recognise the bigger picture when it comes to the vital role played by the health and fitness and physical activity sector in delivering health and vitality to the nation and give the sector the financial support it needs to thrive."

A report by the Commission on the Future of Employment Support found that if current trends continue, then by the first quarter of 2023 the UK will be the only developed economy with an employment rate lower than before the pandemic.

About 600,000 have dropped out of the workforce, including 200,000 who have been out of work for five years or more due to ill health.

Around 30,000 people with long-COVID are unable to work and around 50,000 have retired early since 2020, while the number who have never worked grew by 250,000 to include students and people with ill health or disabilities.

The situation is exacerbated by the baby boomer generation taking retirement and decreases in the rate of migration, with 500,000 fewer non-UK-born workers than there would have been had the UK continued to follow pre-2016 trends.


News
1 to 12 of 8287 news stories
06 Dec 2022
Hutchinson Consulting has been acquired by Arch Amenities Group (AAG), a global provider of hospitality management and consulting services for commercial and residential properties, hotels, spas, private clubs and recreational spaces. Hutchinson provides management-level recruiting ... More
05 Dec 2022
Sony has announced that it will be releasing a motion tracking product called Mocopi in January that looks set to accelerate the services fitness and wellness and also entertainment and attractions companies can provide in ... More
05 Dec 2022
As of January 2023, integrative health will be top of the menu at Kamalaya Wellness Sanctuary & Holistic Spa in Koh Samui, Thailand, following the launch of its new integrative health facility, Longevity House. The ... More
05 Dec 2022
Lumen, a health tech company that analyses people’s metabolism based on the CO2 and oxygen in their breath, has raised US$62m in Series B funding. The round was led by Pitango Venture Capital, with participating ... More
03 Dec 2022
One of the world’s tallest hotels made almost exclusively from wood, has officially opened at the birthplace of cross-country skiing, Skellefteå in Swedish Lapland, with the property's rooftop Vana Spa giving spectacular views over the ... More
01 Dec 2022
Industry research and educational organisation the Global Wellness Institute (GWI) has announced that the UK is the latest country to be highlighted on its new Geography of Wellness microsite. Launched in early 2022, the platform ... More
30 Nov 2022
Aescape, a tech company building automated, data-driven massage tables that mimic human touch, has announced a US$30m (£24.9m, €28.9m) Series A funding round. With this backing, the New-York-based company will enhance its AI-powered technology and ... More
29 Nov 2022
Cruise ship and resort operator One Spa World (OSW) has entered into a new agreement with US-based global cruise line Norwegian Cruise Line Holdings (NCLH). The deal sees OSW extend its longstanding role as NCLH's ... More
29 Nov 2022
Fairmont Spa & Wellness, Windsor Park, has been crowned the UK’s Best New Spa in the Good Spa Guide’s 7th annual regional awards. Located at the new 200-room Fairmont Windsor Park hotel in Southern England, ... More
28 Nov 2022
Banyan Tree Group will expand its Mexican portfolio in 2025 with the opening of a new tropical wellness retreat in the country’s Bacalar Lagoon region, located in the southern part of Quintana Roo. Called Banyan ... More
25 Nov 2022
José Nercellas, CEO of l’Orange Bleue, is planning to open 450 new European gyms and day spas over the next five years to build an estate of 850 sites. The chain was founded by Thierry ... More
25 Nov 2022
Leading spa and beauty organisation CIDESCO International has partnered with cancer education charity Wellness for Cancer to launch a new global qualification. The two organisations believe the best way to advance the spa and beauty ... More
     
International SPA Association - iSPA
Wynne Business
Company Profile
Power Plate
ower Plate is owned, manufactured and distributed by Northbrook, Ill.-based Performance Health [more]
 
MORE PROFILES
Featured Supplier
Three essential spa revenue strategies for 2023
Running a profitable spa demands keeping on top of ever-changing guest preferences. Simply sticking to conventional revenue streams isn’t enough to get ahead of the competition in 2023. ... more
KLAFS GmbH & Co. KG
Product news
Spas can recreate alpine winter scenes with TechnoAlpin’s new cascading snow shower
Spas can recreate alpine winter scenes with TechnoAlpin’s new cascading snow shower
Germaine de Capuccini rolls out debut hydration range Timexpert Hydraluronic plus all-new facial
Germaine de Capuccini rolls out debut hydration range Timexpert Hydraluronic plus all-new facial
Three essential spa revenue strategies for 2023
Three essential spa revenue strategies for 2023
Hydrafacial’s Andrew Stanleick star-struck by JLO partnership
Hydrafacial’s Andrew Stanleick star-struck by JLO partnership
East Cape Futures Forum to emphasise the importance of regenerative tourism and development
East Cape Futures Forum to emphasise the importance of regenerative tourism and development
Excitement builds for ISPA Conference in May 2023 as global industry prepares to be reunited
Excitement builds for ISPA Conference in May 2023 as global industry prepares to be reunited
Directory

 
JOBS
NEWS
VIDEO
TRAINING
PRODUCTS
MAGAZINE
 
SPA BUSINESS
SPA-KIT.NET
SPA BUSINESS HANDBOOK
SUBSCRIBE
ADVERTISE
FREE DIGITAL SUBSCRIPTIONS
CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022



Gharieni GmbH
Gharieni GmbH
Gharieni GmbH
Gharieni GmbH
Jobs    News   Products   Magazine
NEWS
Health and wellbeing are in retreat, stalling the UK’s economy says former Bank of England economist
POSTED 14 Nov 2022 . BY Frances Marcellin
Declining health is impacting the UK's economic growth Credit: Shutterstock/Agenturfotografin
Andy Haldane, former chief economist at the Bank of England, says declining health is hindering the UK's economic growth
Economic activity in the UK has decreased by 700,000 people since 2019 due to
Having been an accelerator of wellbeing for the last 200 years, health is now serving as a brake in the rise of growth and wellbeing of our citizens, said Haldane
The UK is forecast to be the only developed economy to have a workforce smaller than before the pandemic by Q1 2023
The declining health of Britons is stalling the nation’s economic growth. This is the key message from Andy Haldane, chief executive of the Royal Society of Arts (RSA) and former chief economist at the Bank of England, who spoke at The Health Foundation thinktank's annual Real challenge lecture.

“We’re in a situation for the first time, probably since the Industrial Revolution, where health and wellbeing are in retreat,” said Haldane. Having been an accelerator of wellbeing for the last 200 years, health is now serving as a brake in the rise of growth and wellbeing of our citizens.”

Haldane said that although the workforce was already shrinking before the pandemic, a further reduction in the British workforce, as a result of COVID-19, is also a critical factor.

According to The Health Foundation, economic activity in the UK has decreased by 700,000 people since before the pandemic. Around 300,000 50-69-year-olds are most at risk of never returning to work and out of 3.5m active 50-69-year-olds in Q2 of 2022, 1.6m self-reported ill health as their main reason for not working.

“It should come as no surprise that we, therefore, see macroeconomic headwinds such as a record number of unfilled vacancies,” said Haldane. “We haven’t got enough people.”

Haldane also pointed to the government’s lack of investment in healthcare. “When considering spending on healthcare systems, at least by G7 comparisons, the UK sits towards the bottom of the pack,” he said.

In 2019, the UK spent £177bn on healthcare (£2,647 per person), which was less than the G7 average (£3,523). In comparison, France’s healthcare spending was £3,308 per head and Germany’s £4,131 per head.

UK Government expenditure on healthcare, including spending by the NHS, local authorities and other public bodies financing healthcare, increased to £213.4bn in 2020, equating to £3,181 per person.

The UK has seen its employment rate fall over the last two and a half years while other major economies have seen employment rise. It is currently at 75.5 per cent having dropped from 76.1 per cent in 2019.

Outside Latin America, only the UK, Iceland, Switzerland, Latvia and the US have seen employment fall since 2019, with most other EU countries increasing by an average of 2 per cent since the pandemic began.

Haldane did not comment on the impact of Brexit.

Liz Terry, editor of HCM, said: "We've been arguing for sometime that the health and fitness and physical activity sectors in the UK should enjoy cross-portfolio support from both the Department for Business, Energy and Industrial Strategy, as well as the Department for Culture, Media and Sport. This statement from Andy Haldane – one of the world's top economists – shows why this is so vital.

"Having a fit and healthy workforce is critical to driving economic success and if UK government acknowledged this and really got behind the physical activity sector, it would make a huge difference to the economic output of the nation," said Terry.

"As we await the budget this week, we call on the government to recognise the bigger picture when it comes to the vital role played by the health and fitness and physical activity sector in delivering health and vitality to the nation and give the sector the financial support it needs to thrive."

A report by the Commission on the Future of Employment Support found that if current trends continue, then by the first quarter of 2023 the UK will be the only developed economy with an employment rate lower than before the pandemic.

About 600,000 have dropped out of the workforce, including 200,000 who have been out of work for five years or more due to ill health.

Around 30,000 people with long-COVID are unable to work and around 50,000 have retired early since 2020, while the number who have never worked grew by 250,000 to include students and people with ill health or disabilities.

The situation is exacerbated by the baby boomer generation taking retirement and decreases in the rate of migration, with 500,000 fewer non-UK-born workers than there would have been had the UK continued to follow pre-2016 trends.
MORE NEWS
Arch Amenities Group announces acquisition of Hutchinson Consulting
Hutchinson Consulting has been acquired by Arch Amenities Group (AAG), a global provider of hospitality management and consulting services for commercial and residential properties, hotels, spas, private clubs and recreational spaces.
Sony unlocks the metaverse with the launch of Mocopi sensors for avatar creation
Sony has announced that it will be releasing a motion-tracking product called Mocopi in January that looks set to accelerate the services fitness and wellness and also entertainment and attractions companies can provide in the metaverse.
Ozone therapy, IV infusions and cancer screening coming to Kamalaya Koh Samui in 2023
As of January 2023, integrative health will be top of the menu at holistic wellness destination Kamalaya Wellness Sanctuary & Holistic Spa in Koh Samui, Thailand, following the launch of its new integrative health facility, Longevity House.
Lumen expands metabolic health platform and preventative healthcare mission
Lumen, a health tech company that analyses people’s metabolism based on the CO2 and oxygen in their breath, has raised US$62m in Series B funding. The round was led by Pitango Venture Capital, with participating investors including, Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC.
Wooden skyscraper hotel in Swedish Lapland has rooftop Vana spa
The world’s tallest hotel made almost exclusively from wood, has opened at the birthplace of cross-country skiing, Skellefteå in Swedish Lapland, with the property's rooftop Vana Spa giving spectacular views over the city.
GWI partners with Therme Group to bring UK wellness research to Geography of Wellness platform
Industry research and educational organisation the Global Wellness Institute (GWI) has announced that the UK is the latest country to be highlighted on its new Geography of Wellness microsite.
+ More news   
 
COMPANY PROFILES
Phytomer

Phytomer remains an independent family business led by the founder’s son, Antoine Gédouin. We coun [more...]
+ More profiles  
VIDEO GALLERY

Sommerhuber GmbH - Ceramic heated LOUNGER ONE PLUS - ultimate relaxation
Lounger One Plus is characterized by an organic aesthetic, delicate contours and an ideal lying comfort. Comfortable ergonomically shaped Heat Storing Ceramics nestle the skin and provide for perfect relaxation – touchless enjoyment meeting the highest hygiene standards. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
05-07 Dec 2022

East Cape Futures

Hotel Palmas de Cortez, Los Barriles, Mexico
+ More diary  
 


CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS