The European Staycationers
Last year's Brexit vote in the UK may have come as a surprise to most analysts, but the fall in the value of the British Pound has not been such a shock. Following the fall of Sterling, the British tourist industry has seen a huge rise both in visitors from abroad and in Britons opting for a ‘staycation'.
Britain's Daily Mail recently reported that the extra earnings generated by Staycationers in 2016 is anticipated to be in the region of £2.4 billion. This and other, equally impressive, figures were recently published by the Tourism Alliance, whose members include the British Hospitality Association, ABTA and regional tourist boards.
While an estimated £1 billion of the overall £2.4 billion was spent before June 23, the total spend which is being attributed to the staycation income phenomenon for 2016 is expected to be £1.4 billion.
But it's not just the Brits spending thier money in the UK, An additioanl £725 million has been spent so far across Britain's popular tourist destinations. And hundreds of millions more are set to flow in – thanks to the growth in foreign visitors.
The falling pound since the Brexit vote has made holidays more expensive for Britons going abroad and cheaper for foreign tourists coming here – giving Britain's tourism a double boost.
And the impressive surge in people taking their holidays in Britain means that the industry is set for a record-breaking year, topping the high set in 2015 of £127 billion. Other factors adding to the boom are recent fine weather, low interest rates and fears of terrorism overseas.
The Tourism Alliance estimated that spending by Britons on UK holidays has been up by 17 per cent on 2015 so far this year. But, while the popularity of the Staycation is the good news for the British tourism sector, it's bad for everywhere that British tourists normally travel to. The US, in particular, has seen a double digit percentage drop in Brish visitors over the past twelve months.
If you've had any experiences relating to the Staycationing phenomenon, then drop me a line and we'll publish any good stories.