Inbound tourist spending set to boost the UK

Inbound tourist spending set to boost the UK

Spending by foreign tourists in Britain is set to rise 34% to more than £27 billion a year by 2017.

This will boost the country’s retail and leisure industries, according to a study out today (Friday).

The number of overseas visitors to Scotland is predicted to rise faster than the UK average with the study predicting spending will rise by 40% by 2017.

A rise in spending by tourists from emerging economies such as China, Russia and the United Arab Emirates, together with loosening visa restrictions, would support the boost to the UK economy.

The biggest spending inbound visitors will continue to come from the US, France and Germany, according to the report commissioned for Barclays.

But Russia and the UAE will break into the top 10 by 2017, while spending by Chinese tourists will surge 84% on 2013 figures to over £1 billion.

By 2017, the UK retail sector is set to generate £9.3 billion from tourists, an increase of 36% from 2013, while tourist spending on hotels, eating out and attractions will rise by a third to £14.7 billion the report forecasts.

Sourced from Travel Weekly

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