More foreigners than ever visit UK after Brexit hit to pound
Reuters
Published Sep 22, 2017 13:39
Updated Sep 22, 2017 13:50
More foreigners than ever visit UK after Brexit hit to pound
LONDON (Reuters) - A record number of foreigners visited Britain in July, data showed on Friday, adding to evidence of how the weak pound has made tourism a big beneficiary of last year's Brexit vote.
The number of overseas residents coming to Britain in July rose to 4.02 million, the highest for any month since records began and the first time the figure has topped 4 million.
That was 6 percent up on July 2016, the Office for National Statistics said.
By contrast, the number of British residents going abroad during the month fell by 2 percent to 6.94 million.
The value of sterling fell sharply after the June 2016 referendum decision to leave the European Union, leading to higher inflation for British households - and more expensive holidays abroad - but lower prices for foreign tourists.
In the first seven months of the year, the number of overseas visitors to Britain rose by 8 percent while Britons travelling abroad rose by 3 percent, the ONS said, based on preliminary data.
Foreign visitors to Britain spent 13.3 billion pounds in the January-July period, up 9 percent, while Britons increased their spending abroad by 5 percent to 24.3 billion pounds.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.