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29th November 2017

Record Numbers of Tourists Visit Britain

Figures recently released show that Britain has had a record number of foreign visitors in August 2017. This is mainly due to the weakness of the pound against major currencies including the US dollar and the Euro.

The value of the pound plummeted after the Brexit referendum last year and although it has recovered slightly it still means that visitors to Britain receive a more favourable rate of exchange than before the vote. Overseas visitor numbers rose by five percent to a record 3.9 million, the highest ever August total. In contrast the number of British holidaymakers going abroad fell by three percent to 8.9 million during the month which is usually the busiest time of the year. This is no doubt influenced by the pound's buying power being much weaker than it used to be.

Holidays themselves have become more expensive and the British person's spending money does not buy as many meals, beers and day trips as in previous years. This has led to a boom in UK retail sales as more people decide to stay in the country and take their holidays at home. Overseas tourists also contributed to the United Kingdom economy by spending 2.8 billion pounds in the month of August, which shows an increase of 3 percent and a record level of spending for any month. During the first eight months of 2017 there has been a rise in the number of foreign tourists by eight percent the Office of National Statistics has revealed.