- Title: Weak post-Brexit pound spurs record UK tourism growth
- Date: 11th October 2016
- Summary: LONDON, ENGLAND, UK (OCTOBER 11, 2016) (REUTERS) NELSON'S COLUMN IN TRAFALGAR SQUARE TRAFALGAR SQUARE LIONS AND BIG BEN IN DISTANCE TOURIST TAKING PHOTO OF LIONS ANOTHER TOURIST TAKING A PHOTO IN TRAFALGAR SQUARE GROUP OF TOURISTS, MAN LOOKING AT MAP TWO OTHER TOURISTS LOOKING AT MAP VARIOUS OF TOURIST SIGHTSEEING BUSES DRIVING ROUND TRAFALGAR SQUARE TOURISTS CROSSING THE ROAD (SOUNDBITE) (English) BRITISH TOURIST AUTHORITY CHAIRMAN, CHRISTOPHER RODRIGUES, SAYING: "In a period post-referendum, post-Brexit this is the shining star industry that is benefiting from, amongst other things a weakening of the pound." LONDON, ENGLAND, UK (OCTOBER 7, 2016) (REUTERS) PEOPLE WALKING IN FRONT OF CURRENCY EXCHANGE CURRENCY EXCHANGE SIGN PEOPLE CHANGING MONEY INSIDE CURRENCY EXCHANGE CURRENCY EXCHANGE BOARD SHOWING RATES LONDON, ENGLAND, UK (OCTOBER 11, 2016) (REUTERS) PEOPLE WALKING BY BUREAU DE CHANGE BUREAU DE CHANGE BOARD WITH RATES DISPLAYED (SOUNDBITE) (English) BRITISH TOURIST AUTHORITY CHAIRMAN, CHRISTOPHER RODRIGUES, SAYING: "The good news is we are better value than we've been for 30 plus years for Americans, our biggest single market. They spend 3 billion pounds a year here. So Americans seeing this as a good value story is good. Interestingly, I think for Britons going abroad this winter, are going to get sticker shock when they realise how little the pound buys which is very good for domestic tourism." VARIOUS OF AMERICAN AND UNION JACK FLAGS ON REGENT STREET CELEBRATING NFL CLOSE UP OF SHOPPING BAGS BEING CARRIED PEOPLE CARRYING SHOPPING BAGS LONDON, ENGLAND, UK (OCTOBER 7, 2016) (REUTERS) DEREK HOTTER (LEFT) AND IAN CLARK (RIGHT) TOURISTS FROM NEW YORK CITY WALKING OUT OF STORE CARRYING BAG MORE OF HOTTER AND CLARK WALKING ALONG CARRYING BAG (SOUNDBITE) (English) DEREK HOTTER, TOURIST FROM NEW YORK CITY, SAYING: "We've done a bunch of shopping around here and I remember, I was here a couple of years ago and it was a little harder spending and now you come over here knowing it's so much better in our favour, you feel like you can shop a little bit more." VARIOUS OF HOTTER AND CLARK LOOKING AT THE LIGHTS IN PICCADILLY CIRCUS (SOUNDBITE) (English) IAN CLARK, TOURIST FROM NEW YORK CITY, SAYING: "The past couple of times we were looking at restaurants and, you know, fifty pounds for something was a big, big hit and now it is a lot less, so maybe it is another bottle of wine, maybe another desert, maybe another drink here and there." PEOPLE WALKING IN FRONT OF "LIBERTY" SHOP LIBERTY SIGN AND UNION JACK FLAG "BALLY" SHOP IN LONDON'S LUXURY QUARTER CLOTHES SHOP IN LUXURY QUARTER LONDON, ENGLAND, UK (OCTOBER 11, 2016) (REUTERS) (SOUNDBITE) (English) BRITISH TOURIST AUTHORITY CHAIRMAN CHRISTOPHER RODRIGUES SAYING: "Obviously China, but it is a tenth of the size of the U.S. So it's grown by 46 percent, great news, marketing over there is working. We need to keep going at that market because the real tidal wave of Chinese visitors is going to be probably five to ten years from now when the market has got a lot bigger." LONDON, ENGLAND, UK (OCTOBER 7, 2016) (REUTERS) "50 PER CENT OFF" SIGN ON CLOTHING STORE VARIOUS ASIAN TOURISTS ON STREET ASIAN TOURISTS TAKING PHOTO ASIAN WOMAN WAVES (SOUNDBITE) (English) UNIDENTIFIED WOMAN FROM CHINA, WHOSE MOTHER CAME OVER TO VISIT SAYING: "Exchange rate you know, it's lower than before." (SOUNDBITE) (English) UNIDENTIFIED WOMAN TOURIST FROM CHINA, SAYING: "Many discount here, yes. Especially for Chinese customers I think, yes." PEOPLE WALKING ON OXFORD STREET LONDON, ENGLAND, UK (OCTOBER 11, 2016) (REUTERS) (SOUNDBITE) (English) BRITISH TOURIST AUTHORITY CHAIRMAN, CHRISTOPHER RODRIGUES, SAYING: "I think we are going to have a real crush in the sales this Christmas, because I think there are going to be a lot of Europeans here and Brits will have to get their trainers on to get ahead of the line, but that's great news for us." DELEGATES AT A VISIT BRITAIN CONFERENCE DELEGATES CHATTING RODRIGUES CHATTING TO DELEGATES "SHOPPING IS GREAT (Britain)" BANNER VARIOUS OF "COUNTRYSIDE IS GREAT (Britain)" BANNER "HERITAGE IS GREAT (Britain)" BANNER TOURISTS IN FRONT OF BUCKINGHAM PALACE VARIOUS OF FAMILY HAVING PHOTO TAKEN IN FRONT OF BUCKINGHAM PALACE HOUSEHOLD CAVALRY RIDING BY TOURISTS TAKING PHOTOS OF HOUSEHOLD CAVALRY ASIAN TOURISTS TAKING PHOTOS IN FRONT OF BUCKINGHAM PALACE BUCKINGHAM PALACE
- Embargoed: 26th October 2016 15:29
- Keywords: Brexit weak pound tourism Visit Britain American tourists Chinese tourists
- Location: LONDON, ENGLAND, UK
- City: LONDON, ENGLAND, UK
- Country: United Kingdom
- Topics: Economic Events
- Reuters ID: LVA00153K9DFR
- Aspect Ratio: 16:9
- Story Text: The plummet in the British pound following the shock Brexit referendum result in June has given a boost to U.K. tourism, Visit Britain announced on Tuesday (October 11).
International visitors spent an extra 800 million pounds in the last year, up four percent to 2.5 billion pounds, the annual review recorded.
It follows a bounce in the numbers of people visiting Britain in July, in the weeks after the referendum. Then the pound's sudden drop boosted visitor numbers by 2 percent to 3.8 million compared to the same month last year.
"In a period post-referendum, post-Brexit this is the shining star industry that is benefiting from, amongst other things a weakening of the pound," Christopher Rodrigues, Chairman of the British Tourism Authority told Reuters.
Sterling's sudden depreciation left the pound at its lowest level against the dollar in more than three decades.
"The good news is we are better value than we've been for 30 plus years for Americans, our biggest single market. They spend 3 billion pounds a year here. So Americans seeing this as a good value story is good. Interestingly, I think for Britons going abroad this winter, are going to get sticker shock when they realise how little the pound buys which is very good for domestic tourism," Rodrigues said.
When the pound fell even further earlier this month, New Yorkers Derek Hotter and Ian Clark decided to hop on a plane for an impromptu holiday in the U.K.
"We've done a bunch of shopping," said Hotter.
"I was here a couple of years ago and it was a little harder spending and now you come over here knowing it's so much better in our favour, you feel like you can shop a little bit more," he added.
"The past couple of times we were looking at restaurants and, you know, fifty pounds for something was a big, big hit and now it is a lot less, so maybe it is another bottle of wine, maybe another desert, maybe another drink here and there," said Clark describing how they are able to do more during this visit to the U.K. which has taken them to London and the Scottish Highlands.
Visit Britain said last year Americans spent 3 billion pounds for the first time, meaning it is still the U.K's most important market.
But visits by Chinese tourists boomed by 46 percent and their spending increased by 18 percent, putting China into the top ten of Britain's most valuable markets.
Rodrigues said the weak pound is obviously an attraction for Chinese visitors, but that their marketing focus for pulling in China's 100 million who travel overseas is more long term.
"It's grown by 46 percent, great news, marketing over there is working. We need to keep going at that market because the real tidal wave of Chinese visitors is going to be probably five to ten years from now when the market has got a lot bigger," he said.
Bookings from China to the U.K are up by nearly 25 percent between now and Christmas, with the lure of London's luxury quarter attracting many.
"Exchange rate you know, it's lower than before," said one Chinese woman explaining why her mother chose this month to visit.
"Many discount here, yes. Especially for Chinese customers I think," said another excited shopper.
Even though continental European visitors stay less time and spend less money than their American counterparts, they are a hugely important bloc. As the euro gains in strength over the pound post-Brexit, Visit Britain predicts a rush of European visitors in the coming months.
"I think we are going to have a real crush in the sales this Christmas, because I think there are going to be a lot of Europeans here and Brits will have to get their trainers on to get ahead of the line - but that's great news for us," said Rodrigues. - Copyright Holder: REUTERS
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