Sterling slump to boost inbound tourism

Sterling slump to boost inbound tourism

The UK tourist industry is gearing up for a strong 12 months after the vote to leave the European Union sent the value of the pound tumbling.

Flight bookings to Britain since the referendum are already up 10% on the same period last year, according to travel data specialist Forward Keys, The Times reported.

China’s biggest tour operator has had a 200% increase in searches for UK holidays while reports a third more Americans looking for flights to the UK.

The pound has collapsed by more than 12% against the dollar and more than 11% against the euro since the vote last month, making it cheaper for foreigners to visit the UK. It has slumped 16% against the Japanese yen and 11% against the Chinese yuan.

Hotel operators are also expecting a boom in “staycations” as more people opt to holiday at home because of the increased cost of going abroad.

However, Brexit poses as many challenges as it does opportunities for the tourist industry, VisitBritain director Patricia Yates said.

“We need to portray Britain as a very welcoming destination. We are monitoring what European media are saying about us. In some markets it remains positive but in others there is concern about Britain walking away,” she told the newspaper.


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