WTM 2017: Inbound tourism boom follows Brexit vote

WTM 2017: Inbound tourism boom follows Brexit vote

The weaker pound as a result of Brexit has created a “boom” in tourists visiting the UK, according to Euromonitor.

The market research company said the UK had become “much more affordable” as a result of Brexit, attracting more holidaymakers to come to the country for a holiday.

Speaking at World Travel Market’s session on the UK market in 2018, Caroline Bremner, head of travel and tourism research at Euromonitor, said: “It’s quite positive on the inbound side. It’s much cheaper to come to the UK. We have always been seen as an expensive destination and we are now deemed as value for money.

“If you consider that the UK has been a victim of terrorism three or four times this year, that is not impacting demand from international source markets.”

She predicted the UK would continue to benefit, particularly if there is a “no deal” scenario on Brexit in 2019.

“A no deal on Brexit will have a positive impact on inbound tourism because the pound would continue to fall; a transition deal is less positive [for inbound tourism],” she added.

She predicted the UK economy would continue to grow at a rate of around 1.5% to 2% under a transitional Brexit deal.

In contrast, the outbound travel market could be seriously impacted by a no deal on Brexit.

She warned: “A Brexit ‘no deal’ could have a major, serious affect on outbound demand and reduce demand. The worst case scenario is a 5% reduction.  We expect this would hit Spain the hardest; it could see one million less visitors over the next five years.”

Travel Weekly coverage of World Travel Market

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