Despite a Weaker Pound Sterling, Britons are Travelling and Spending More Overseas

The United Kingdom’s Office for National Statistics reports that inbound tourism to the UK has increased markedly according to their most recent data.

Overseas residents made 3.5 million visits to the UK in June 2017; this has increased by 7% when compared with June 2016.

Furthermore, overseas residents spent £2.2 billion on their visits to the UK in June 2017; this is an increase of 2% when compared with June 2016.

Of interest is that despite the weaker Pound, UK residents have not been put off travelling abroad.

UK residents made 7.2 million visits abroad in June 2017; this has increased by 4% when compared with June 2016.

Another eye-opening stat is that UK residents spent £4.6 billion on their visits abroad in June 2017, a 15% increase when compared with June 2016.

This spending splurge again comes despite the fall in the Pound.

“UK residents consistently make more visits abroad than foreign residents make to the UK,” say the ONS, “the total amount spent by UK residents during visits abroad is also higher than the total spent by foreign residents visiting the UK.”

The data also shows that Europe is far-and-away the most popular destination for UK travellers with the notable ~25% drop in the Pound to Euro exchange rate since the start of 2016 apparently not deterring the attraction of the continent.

The United States is the second most popular country for UK tourists but visits to “other countries” (countries outside Europe and America), rose by 13%.

The numbers of visits and the amounts spent vary through the year, with more in the summer. This is the case both for UK residents and overseas residents.

However, UK residents show a much sharper peak both in visits and spend during the month of August, which is traditionally the only complete month of the UK school summer holidays.