Published on : Wednesday, February 1, 2017
The U.K.’s tourism and hospitality sectors have benefited a lot from an increase in tourist arrivals from North America brought on by the devaluation of the British pound following the June EU Referendum. U.K. arrivals from North America were up 6.8% between July and October 2016 when compared with the same period in 2015. However, arrivals from Europe have dropped slightly following the referendum. Overall during the first 10 months of 2016, international arrivals to the U.K. were up 1.7% to 31.4 million.
Meanwhile business trips to the U.K. showed growth in 2016. To quote David Goodger, Director for Tourism Economics in Europe, “While we’ve seen a recent slowdown in business travel to the U.K., it’s important to put it in perspective that 2015 was a standout year for business arrivals, up 7.1% compared with 2014. What remains to be seen is how holiday travel will be impacted in summer 2017.
As the referendum vote occurred towards the end of June, when many already had July or August vacations planned, we’ll see how a favorable exchange rate for holiday visitors from North America will play out this coming summer.” For U.K. hotels, performance growth has been mixed between London and Regional U.K.