Weak pound leads to huge rise in tourist spending

19 December 2016 - Janet Bird

tourists london shopping

It may be bad news home grown shoppers, but the weak pound has proved a boon to tourist spending.

Indeed, spending by tourists broke all records last month, soaring 41 percent.

The rise was largely attributable to Asian visitors taking advantage of the weak pound to snap up British luxury goods.

Figures collated by Global Blue, a tourism shopping tax refund company, found that Chinese visitor spend, which accounted for a quarter of total tourist spending, was up by 63 percent in November.

Spending by Taiwanese and Hong Kong visitors was also up - by a staggering 160 and 127 percent respectively - while purchases by US shoppers showed an 88 percent increase.

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