A study by STR and Tourism Economics indicates that the United Kingdom’s tourism and hospitality sectors have benefited from an increase in arrivals from North America, brought on by the devaluation of the British pound following the June EU Referendum. According to the International Passenger Survey (IPS) conducted by the Office for National Statistics, U.K. arrivals from North America were up 6.8% between July and October 2016 when compared with the same period in 2015. From January to June, the “pre-Brexit” vote period, arrivals from North America increased at a more modest rate (+0.5%) compared with first six months of 2015.
Meanwhile, arrivals from Europe have dropped off slightly following the referendum, down 0.1% between July and October 2016. Overall during the first 10 months of 2016, international arrivals to the U.K. were up 1.7% to 31.4 million.
October 2016 year-to-date figures also show that holiday arrivals to the U.K. were down 3.7% overall. But between July and October, this rate of decline slowed somewhat to 2.9%. Meanwhile, business trips to the U.K. still showed growth in 2016, but slowed from 4.3% between January and June to 1.8% between July and October.
“While we’ve seen a recent slowdown in business travel to […]