A weak British pound drove an increase in offshore tourists to the U.K. in the first quarter of 2017, as an estimated 8.3 million people travelled to the county in the same period.
The number of visitors represented a 10 percent increase on a year-over-year basis. As a result, spending from tourists rose by 16 per cent to £4.4 billion.
The higher spending helped in buoying business for ski-accommodation-only resorts and other recreational facilities in the U.K. During the second half of 2016, those from the U.S. accounted for a significant portion of spending for tourism expenses in the country.
Other visitors from the Middle East also accounted for a large part of spending among offshore tourists. Visitors from the Nordic and Benelux countries, Italy and Spain spent more on their dining experience, as spending for restaurants exceeded the global average.
On the other hand, those from Denmark, South Korea and Israel particularly spent more on live entertainment compared to the worldwide average.
The increase in tourists bound for the U.K. may not have occurred if the British currency has not declined ever since Brexit. On the bright side, the situations lured budget-conscious travellers to visit the country. At the time of their visit, the foreign exchange rate reached 13 percent lower against the euro and dollar.
This factor eventually convinced more people to travel to the U.K. In particular, some 54,000 tourists from China that flew to the country due in part to the lower price of consumer goods.
The weaker pound may have certain setbacks for the U.K. Still, the scenario may not be so bad after all since the tourism industry reaps the benefits from the influx of tourists, who wish to take advantage of a stronger foreign exchange rate.