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When the pound crashed in response to the United Kingdom’s vote to leave the European Union in June, bargain-hunting international travelers seized on the opportunity to book trips to the freshly discounted U.K., according to recent figures released by VisitBritain and the airline data analysis firm ForwardKeys.
Following the June 24 referendum, also known as the “Brexit” vote, July was the highest month ever for inbound tourism to the U.K., with 3.8 million visitors descending on the country, a 2% increase in visitors compared with July 2015. Visits from North America were up 5% in July, to 580,000, compared with the previous year.
“We want Britain to be top of people’s list as a ‘must go now’ destination, and we have an immediate and real opportunity to promote Britain as a great value destination, particularly in our long-haul, high-spending markets such as China and the U.S.,” VisitBritain CEO Sally Balcombe said in a statement about the recent figures.
Following the vote to leave the EU, the pound plunged; it fell about 10% in a span of a few hours, dropping to a dollar-pound rate that sunk below 1.35.
And it continues to fall. Last week, the pound hit a 31-year low, dipping to $1.26 on Wednesday.
There has been significant media hype surrounding the value that the U.K. suddenly represents to foreign travelers, and according to booking patterns it appears that the buzz has resonated.
International air bookings to the U.K. were up 7.1% for the 28 days following the referendum vote, according to ForwardKeys.
Air bookings from the U.S. to the U.K. were up 10% for the 28 days following the vote.
Brian Tan, CEO of Mountain View, Calif.-based agency Zicasso, said demand for the U.K. definitely jumped following Brexit.
“Zicasso has been experiencing an uptick in the U.K. market every year since 2008,” Tan said. “However, 2016 has seen a bigger uptick in demand than normal, especially for the U.K. post-Brexit announcement. This has primarily been due to the most favorable exchange rate in over a decade plus favorable airfares.”
The uptick in visitors has brought more money to the U.K.’s tourism economy, as well.
Overseas visitors to the U.K. spent $3.2 billion in July, a 4% increase compared with July 2015, according to VisitBritain.
From January through July, the U.K. welcomed 21.1 million visitors, a 2% gain on the same period last year, and those visitors spent $14.8 billion.
Sourse: travelweekly.com
