6 December 2016
New research shows the impact of the exchange rate on tourism in Britain
A new report from VisitBritain has shown the impact of the exchange rate on tourism in Britain. The analysis, based on two questions that were asked to respondents in the GFK-Anholt Nation Brands Index in July 2016, explored the impact of the exchange rate on the likelihood to travel by market and visitor type.
The results found that the UK is now considered a more affordable destination following the Brexit vote and 72 per cent of those asked have some knowledge of the GBP exchange rate versus their own currency.
The survey found that the knowledge of the GBP exchange rate varies widely dependent on the market. For example, India, South Africa and China have a good knowledge of the exchange rate. Compared to other EU nations, France and Germany have low knowledge on exchange rates and half of USA travellers have no knowledge.
The report shows that the knowledge of the GBP exchange rate does not translate to an increased likelihood to travel for all markets. However, the exchange rate has had a positive impact on intent to travel to Britain from India, China and the USA in particular.