Brexit gives uk tourism a boost as cheap pound _ this is money currency used in britain

Brexit gives uk tourism a boost as cheap pound _ this is money currency used in britain The UK’s tourism industry has been given a post-Brexit boost, with international holidaymakers enjoying favourable exchange rates as the pound weakens. Total flight bookings to the UK surged by by 7.1 per cent in the month after Britain voted to leave the European Union, travel analytics firm ForwardKeys said. Undeterred by Britain’s vote to cut ties with the EU, bookings from Europe for trips to the UK have increased by 5 per cent since the end of June. Boost: The UK’s tourism industry has been given a post-Brexit boost, with international holidaymakers enjoying favourable exchange rates as the pound weakens Further afield, UK-bound flight bookings for holidays of one night or more increased by 8.7 per cent


compared to the same time a year ago. Demand for UK holidays has been particularly strong from American and Chinese tourists, the findings suggest. The upturn in fortunes for Britain’s tourism industry comes as international holidaymakers enjoy ‘the most favourable exchange rates in decades’, ForwardKeys said.

Since Britain’s Brexit vote, sterling has fallen by around 11 per cent against the dollar and 10 per cent against the euro, meaning overseas holidaymakers are seeing their cash stretch further. Carrying on: Undeterred by Britain’s vote to cut ties with the EU, bookings from Europe for trips to the UK have increased by 5 per cent since the end of June Last Thursday, sterling dropped a further 2 per cent against the dollar as the Bank of England cut interest rates to 0.25 per cent, after being held at 0.5 per cent since 2009.

This afternoon, sterling is down 0.04 per cent against the dollar to $1.3062, and down 0.08 per cent against the euro to €1.1785. Olivier Jager, co-founder and chief executive of ForwardKeys, said: ‘It’s now confirmed that Brexit had an immediate, positive impact on inbound tourism to the UK, which is converting into better-than-anticipated arrivals.

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