U.K. Pound Boost Tourism By 18%

British pound
  • U.K. Pound Boost Tourism By 18%

The continuous fall in the U.K. pound has bolstered foreign visits to a record high.

While the weak pound maybe a burden to consumers, it’s proving a boon for the tourism industry. The data released on Friday revealed foreign visitors made 2.73 million visits to the U.K. in the first quarter of the year, 18 percent more than the same period last year.

However, the number of British vacationers traveling abroad surged just 1 percent during the same period. Despite substantial recovery over the past month, the pound is 13 percent down since the Brexit referendum in June 2016.

 

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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