Post-Brexit Britain: Pound’s plummet boosts tourism and spending

The pound’s post-Brexit plunge is spurring record growth in tourism and spending in the UK, by travelers keen to take advantage of favourable exchange rates. The pound’s sudden depreciation left the currency at its lowest level against the dollar in more than three decades, which means cheaper prices for visitors to the country. International tourists have spent an extra 800 million pounds in the last year, up four percent to a total of 2.5 billion pounds. The UK’s tourism authority said that Americans’ spending in 2015 surpassed 3 billion pounds for the first time, meaning the US is still Britain’s most important market. At the same time, visits by Chinese tourists boomed 46 percent while their spending increased 18 percent, putting China in the top ten of Britain’s most valuable tourism markets.

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