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UK tourism spikes as £2.5bn spent in July due to weak pound

Staff Writer |
As the pound tumbled in the wake of the EU referendum, tourism soared in Britain as July logged its biggest month for visitors, according to the VisitBritain tourism agency.

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In July, 3.8m people visited Britain and spent £2.5bn, 4% more than last year.

After the EU referendum in June, the pound slumped to lows against the dollar and fell to 31-year lows in early October after the Prime Minister confirmed she will trigger Brexit negotiations with EU towards the end of March, making Britain a cheap destination for travellers.

The pound is currently down 0.63% to 1.2284 against the dollar and down 0.32% to 1.1063 against the euro not long before 1000 BST on Tuesday.

Of July's 3.8m visitors, 2.3m were from the EU, which was a 3% increase from last year while sterling currently trades as its lowest level in about seven years against the euro.

Rather than just a sterling effect, VisitBritain said the boon in tourism was part of a long-term trend of growth, as in 2015 there 36.1bn visitors, who spent £22.1bn.

In total, tourism is worth over £26bn to the British economy.

American visitors last year spent £3bn and visitor numbers from China increased by 46% and spending by 18%.

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