The UK is attracting a record number of overseas and British tourists looking to make the most of a weakened pound.
Tourist promotion agency VisitBritain forecasts overseas trips to the UK will increase 6% to 39.7 million in 2017, with spending up 14% to £25.7bn.
The increased number of visitors from abroad is being supplemented by a growing number of Britons choosing to holiday at home. From January to June this year, domestic overnight holidays in England rose 7% to a record 20.4 million, with visitors spending £4.6bn - a rise of 17% and another record.
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Much of the increase in both domestic and overseas tourism has been driven by a dramatic slump in the value of the pound since last summer’s Brexit vote, especially against the euro and US dollar. This has meant foreign currencies go further in the UK, while overseas holidays have become more expensive for Britons.
Stressing the importance of the £127bn annual tourism sector to the economy, British Tourist Authority Chairman Steve Ridgway warned that “in a fiercely competitive global industry you cannot just build a strong, resilient industry on a weaker currency”.
“Two-and-a-half times bigger than the automotive industry, employing three million, tourism is one of our most successful exports and needs no trade deals to compete globally,” he said.
However, he added it was vital the UK “continues to invest in developing world-class tourism products, getting Britain on the wish-list of international and domestic travellers and we must make it easy for visitors to make that trip”.