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Икономика >> Weaker sterling attracts record number of foreign tourists to UK

Sterling’s plunge following the EU referendum is making Britain more attractive for foreign holidaymakers, resulting in a record number of overseas visitors in June. 

Non-UK residents made 3.5m visits to Britain in June, an increase of 7% from a year ago and a record for that month, according to the Office for National Statistics (ONS). European and North American visitors led the way, while spending by visitors from overseas increased by 2% from a year ago to £2.2bn.

Brexit has led to a slump in the value of the pound against most major currencies – including a 16% drop against the euro and a more than 13% slide against the dollar – making holiday and business trips to the UK more attractive.

There was an increase in visitors of 35% from North America, “clearly buoyed by the particularly sharp drop of the pound against the dollar since mid-2017”, said Howard Archer, the chief economic adviser to the EY Item Club.

From April to the end of June, 10.8m visits to the UK were made by non-residential visitors, up 8% on a year ago. Holiday visits rose by 20% to 4.7m for the period, the ONS said.

As foreign tourists come to Britain to benefit from the cheaper pound, rising costs for UK holidaymakers are encouraging the trend for “staycations” as an alternative to overseas holidays.

However, the figures show British tourists are still taking more holidays abroad than before the European Union referendum, shrugging off the fall in the value of sterling.

UK residents made an estimated 7.2m visits abroad in June, an increase of 4% on the previous year, the ONS figures show. Tourists and business travellers spent about £4.6bn during these visits, an increase of 15% compared with June 2016.

The figures reiterate the trend for Britons seeking holidays abroad at the start of the summer season, ahead of data for the peak travel period during school holidays, which are yet to be released by the ONS.

In the period from April to June, there were 1% more visits abroad by UK residents compared with a year ago, and they spent 2% more on these visits. Visits to countries outside Europe and America showed by the biggest increase, rising by 13%. Holiday visits and visits to friends and relatives both increased by 3%, while business visits decreased by 7%.

The countries outside Europe and North America proving most popular with British travellers include India, Mexico, the United Arab Emirates and Cuba, according to the ONS.

Although the number of overseas visitors coming to Britain remained below the number of trips made to other countries by UK residents, the value spent by non-British residents in the UK jumped by 8% on the previous year to £6.2bn for the April to June period.

VisitBritain’s strategy director, Patricia Yates, said: “Tourism is one of Britain’s most valuable export industries and this continued growth demonstrates the industry’s increasing importance as a key driver of economic growth across our nations and regions.”

The latest flight booking data from travel consultancy ForwardKeys showed bookings for international arrivals to the UK from August to October were up 9% on the same period last year.