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High staff turnover in the travel, tourism and hospitality industry is costing businesses £886 million a year, according to new research.

The cost of staff turnover was announced at the Shine Awards 2008, a ceremony for women working in the hospitality sector.

According to the research 70 per cent of recruitment is to replace existing members of staff, and graduates may be interested to hear that shortages in workers in the industry means 40 per cent of vacancies remain difficult to fill.

The Shine Awards 2008, which will be held at London Metropolitan University's Graduate Centre, will be held on November 26th.

Five categories have been added to this year's ceremony including, Woman Entrepreneur of the Year, Young Achiever of the Year, Public Sector Woman of the Year and Outstanding Mentor of the Year.

Nominations for the awards must be submitted by October 31st.

According to new research by Tourism Australia, British backpackers, many of whom are taking a gap year, make up 21 per cent of Australia's backpacking market.

The research also revealed that an increasing number of people are travelling for employment.

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