Finances

As a registered charity, we depend on the financial support of our partners.

The majority of our funding comes from our partner travel companies and their customers, with charitable trusts also contributing.

Here’s a breakdown of our income and charitable expenditure during 2020. For a full copy of our annual report and accounts, please see the Charity Commission website.

For more on our work in 2020, please see our annual review.

Our income

 

Our total income of £466,496 was down 36.3% year on year as a result of a significant loss in donations due to the global pandemic and its devastating impact on travel, as well the conclusion of two initiatives that had been in place in 2019. To offset the loss of donations,10 additional income sources were secured for initiatives in 2021. Also included in the total income is £98,403 received from the job retention scheme.

 

 

 

 

Breakdown of Charitable Expenditure

This graph shows the split of our charitable expenditure. To offset the reduced income, a reduction in our total expenditure was achieved, through the suspension for a time of in-country activities, the furloughing of staff, some unavoidable cuts to staffing and a freeze on unrestricted spending wherever possible, all in response to the pandemic. A greater than originally forecasted draw on our reserves was also agreed by the Board because of the pandemic’s significant impact on income. Despite a reduction in total expenditure of 28.7% year on year, we continued to fund activities that: support tourism actors to plan and develop with destination needs at heart; support better, more sustainable tourism products; and advocate for change.

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