Acting as a silver lining amidst a storm of uncertainty, the crashing pound is likely to attract more US visitors to the UK, it has been suggested.<\/p>\n
<\/p>\n
The pound plunged to a record low against the dollar after the Chancellor, Kwasi Kwarteng revealed\u00a0a wide range of tax cuts\u00a0in his mini-Budget.<\/p>\n
Although British holidaymakers are feeling the negative impact of the dropping pound overseas,\u00a0the UK has become a top destination for US tourists.<\/p>\n
According to The Times, there has been a considerable rise in travellers looking for low rates for travel to the UK.<\/p>\n
Patricia Yates, CEO of VisitBritain, said:<\/p>\n
\u201cWith the pound offering good value for international visitors, we\u2019ve got a timely opportunity to influence destination choice and drive bookings, capitalising on those markets where we see growth including the US, our largest and most valuable market, competing hard to ensure the undecided choose Britain.\u201d<\/p>\n
What are the drawbacks?<\/strong><\/p>\n As well as the falling value of the pound, the upcoming\u00a0coronation of King Charles III\u00a0will unexpectedly draw greater numbers of international visitors to the country, helping to boost tourism.<\/p>\n However, rising inflation, energy costs and\u00a0staff shortages\u00a0at British hotels and tour companies are all problems that need to be noted.<\/p>\n Export recovery and growth<\/strong><\/p>\n Present exchange rates make the UK even more attractive for visitors, as inbound tourism is the UK\u2019s second leading export industry.<\/p>\n International tourists and the amount they spend will be a great help for UK export recovery and growth.<\/p>\n The plummeting pound has also made UK retail costs less expensive for those using currencies against which the pound has dropped.<\/p>\n Although we can\u2019t necessarily assume this will persist in the long-term due to the competitive nature of international tourism, for now, the UK tourism industry may well see a welcome boost.<\/p>\n For help and advice on related matters, contact us today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Acting as a silver lining amidst a storm of uncertainty, the crashing pound is likely to attract more US visitors to the UK, it has been suggested.<\/p>\n","protected":false},"author":2,"featured_media":4878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,4,26,107],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4876"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4876"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4876\/revisions"}],"predecessor-version":[{"id":4877,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4876\/revisions\/4877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/4878"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}