Economic news

UK attracts record numbers of tourists thanks to pound fall

UK received unprecedented numbers of foreign tourists in July, and their level of spending had never been seen before, which happened thanks to increased buying power made possible by pound fall.

Office of National Statistics gives the numbers of 4 mln visits to the UK in July by foreign nationals, which is a 6% growth year-on-year, their spending made up £2.7 bln, that is 3% more compared to the same period last year.

Numbers grew in summer months but not as high as during the Easter time, that showed tourist numbers and purchases rise by 20% in comparison to the last year.

Brexit caused pound to lose 20% of its value in 2016 against other top currencies but that diminished lately, specifically the US dollar that leaves just 13% slump from last year.

The pound situation rendered voyages to Britain more compelling, with EU and American visitors arriving in masses. Notably, flocking tourists were regularly distributed after June following a rise in numbers coming from other places, which were predominantly from south-east Asia, including China.

Low pound at the same time decreased the number of UK nationals travelling abroad, moving down to 6.9 mln, that is 2% less than in the same month last year.

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