Tourism has been one of the most successful in the UK economy recently, partly thanks to “brexit”.
The lower value of the pound since the brexit referendum means that the UK is now much cheaper destination than it used to be.
Many continent, the Europeans, the Americans and the Chinese, people take advantage of this.
It is clear from the cacophony of different languages and accents outside Buckingham Palace, and in the streets around the Palace of Westminster.
“It is a little cheaper than it was a few years ago,” said one visiting American tourist.
“Thanks to the euro, London is not more expensive that in France,” a French tourist added.
During this time, a German man said to the euro-pound rate has “made me very happy”.
Two-thirds of international visitors enjoying London, of sites, of Cornwall, beaches, and Edinburgh Royal Mile are the rest of the European Union.
The tourism agency VisitBritain forecasts, there will be a 6% increase in the number of international visitors in 2017, with a large number coming from France in particular.
VisitBritain, director, Patricia Yates said: “The money is in our favour. It might encourage more people to come.”Numbers game
The growth of tourism has been helped by the 2012 Olympic games, a showcase for Britain’s historic cities, picturesque villages, and stunning national parks.
The most recent data from the Front of the Keys, who oversees the bookings of flight, suggests that international arrivals to the UK will be 9% higher for the month of August to October of this year compared to the same period of the year 2016.
Bookings from China are up 20%, and those of the united states are 23% higher, as the data suggest.
There is not just more tourists, they are also spending more when they are in the united KINGDOM.
VisitBritain predicts that the tourists spending to surge by 14 per cent this year.
“Very often, people budget in their own currency. They get more pounds for their money, and we can see them pass the start,” says Patricia Yates.
Sterling has fallen by 16% against the euro since the month of June 2016 referendum, and has fallen 23% against the U.S. dollar.
Over the past two years, the pound has fallen about 30% against the euro.
“There are some factors of downward pressure on the book, and a few other things that put upward pressure on the euro,” says Paul Hollingsworth of Capital Economics.
He lists the forces down on sterling as a “brexit, and the uncertainty over the UK’s future relationship with the EU, the economy… and waiting for interest rates”.
“We’ve seen a “brexit” bounce back,” says Jace Tyrrell of the New West End Company, which represents shops on London, Bond, Oxford and Regent Streets.
Shopping bags from all kinds of stores rush on Regent Street, Mr. Tyrrell said, “In the last six months, there has been a 36% increase in spend here, so certainly international visitors are enjoying the value of the depreciation”.
Stores report sales of expensive jewelry and haute couture items increase the most.”Golden age”
The large American hotel chain Hilton has 138 hotels in the UK, and plans to open 30 more, in part because of the tourism boost stimulated by the decline of the pound sterling.
The company says it has seen double-digit growth in the UK over the last year.
In the entrance hall of one of his many London hotels, Simon Vincent, Hilton’s president of Europe, Middle East and Africa, said that we are currently living through a “golden age of travel”.
Another factor at the origin of the British society for the expansion of the demand of customers in the united KINGDOM, as a “staycation” becomes more popular.
“The customer has always been an important part of our business activities, in particular in our portfolio outside of London,” said Mr Vincent.
“In fact, it is the most significant proportion of our activity. It has been growing well.” Bargain Britain?
In spite of “brexit bounce”, the sharp increase in the number of tourists has started before the sharp drop of the pound, and the industry says that it is not relying on currency depreciation to increase the number further.
“We operate in a competitive global environment,” said VisitBritain’s Patricia Yates.
“We will never be a cheap destination, we don’t want to be. We can offer you a good value for the price we are charging,” she said.