The economics of Staycations

The economics of Staycations

Over the past few years ‘staycations’ – holidaying in the UK rather than overseas – have been on the rise. 

Between the uncertainties of Brexit, terrorism threats, airport and ferry strikes and other factors, UK residents have been rediscovering some of the amazing wonders of the British Isles. With so much to offer, temperamental weather aside, the country has the diversity to mean that there is a vacation to suit every appetite.

Variety is key

One of the things that UK holidaymakers seem to be enjoying is not only the diversity of attractions, landscapes and food on offer, but also the uniqueness of some of the holiday accommodation available too. No longer are you constrained by the choice between a caravan, tent or holiday flat. With today’s staycation accommodation options, you are only limited by your imagination. Holiday on a double-decker bus anyone? It gives a whole new meaning to ‘On the buses’.

From field to farmhouse

However, farm holidays are not a new idea. They have long conjured images of the countryside idyll, of feeding the animals and fresh milk and eggs for breakfast. But many farm and landowners now are going a step further and converting old farm buildings and unused land into holiday havens for the discerning. From luxury milk parlours and converted barns, through to utilising land to house tepees, buses, gypsy caravans, shepherd huts, glamping pods, aeroplanes and much more. There are countless opportunities.

Vacation diversification

But why diversify? Diversification’s main benefit to farmers and landowners is that it provides a separate and additional income stream from farming, but without having to sell the land or cease operating the farm. It also has the potential to provide additional employment for family members or the local community. In addition, holiday accommodation, as opposed to converting farm buildings into offices, manufacturing or retail outlets, has the flexibility to be seasonal – to fit around the restraints of the farming calendar if necessary.

Preventing ‘foul’ play

One potential downside of opening up land to vacationers is the possible negative impact it might have on livestock and land. However, by identifying the potential risks, such as dogs and children frightening the animals, or people unwittingly trampling crops, and mitigating against them (clear signage, designated areas etc), many of the threats can be neutralised before they become an issue.

At Forge Property Consultants, our estate and property managers have extensive experience in the management of all types of property – from 3,000 acre country estates and large mixed portfolios to single dwellings, commercial units, offices and areas of land. If you are interested in exploring how you can make best use of your land and property, please contact us for a chat.