Don't Miss

Why are foreign tourists important?

By on July 21, 2014

Spending by foreign tourists in Britain is set to rise 34 percent to over 27 billion pounds ($46 billion) a year by 2017, according to research published on Friday, boosting the country’s retail and leisure industries.

A report commissioned for Barclays said an increase 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 Britain’s economy.

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

Leave a Reply

Your email address will not be published. Required fields are marked *