2018 in preview: Peter Jenkins, Sun-hat Villas & Resorts

Peter Jenkins, managing director of Lincoln-based luxury villa specialist Sun-hat Villas & Resorts, gives us his three business predictions for 2018.

1. There’s been a bit of scaremongering about the economy over the past few months but I think the reality will be that the economy will outperform the gloomy predictions in 2018. Much of the strength will come from overseas earnings rather than consumer confidence but I certainly don’t think we are teetering on the edge of a cliff like some would have us believe!

2. As I’ve just mentioned, I don’t think consumer confidence will be particularly high in 2018, at least for the first half of the year. I believe it will be fairly static until the end of summer as we are in a kind of limbo period where nobody is particularly clear on what is happening with the Brexit situation. After that time, we should have some degree of clarity and, whatever the outcome, a clear plan, whether hard or soft, will bring about a steady increase in consumer confidence.

3. The luxury market has been booming over the past few years but I wouldn’t be surprised if we start to see that market contract in 2018. People will continue to spend on the essentials such as food and clothing, and I’d even include holidays in that bracket. However, I think uncertainty in the first half of the year will have an impact and big ticket items will be the first to be taken off the ‘must have’ list.