Thank heavens for the weak pound. The global recession may have put a huge dent in corporate spending, but the exchange rate has turned Britain into one of the best value leisure destinations. While visitors from overseas are able to buy more pounds with their euros, dollars and yen, the flipside is that more British consumers are appreciating the benefits of spending their money at home rather than across the Channel.
VisitBritain, the national tourism agency, is forecasting a return to growth for British tourism this year after an encouraging past few months. In the three months to October, visitors — both business and leisure — spent £5 billion in the UK, a rise of 3 per cent on the same period a year earlier. Visitors from America, among tourism’s biggest spenders, were up 11 per cent in the three months.
The agency anticipates a rise of 0.8 per cent in visitors to 30.4 million this year, with spending rising by almost 4 per cent to £17.1 billion. It says that spending could be even stronger if the pound remains weak and the US economic recovery gathers pace. To cash in on Britain’s attractiveness as a value-for-money destination, Visit Britain has launched a number of marketing campaigns, even introducing an iPhone app as part of its promotion of film tourism, starting with the new Sherlock Holmes movie.
Domestic tourism is also expected to enjoy a robust year, barbecue summer or not. Big tour operators have dismissed the notion of a stay-at-home summer as a myth, insisting that a main overseas holiday remains a must. But domestic holiday companies talk optimistically about 2010. Pontin’s and Butlins are enjoying strong bookings, while Hoseasons, the self-catering specialist, says that advance bookings are up by 28 per cent.
That does not mean that the spending shackles will be cast off. Consumers will remain highly cautious in the face of economic and political uncertainty, spelling good news for the ultimate in value holidays: camping. GO Outdoors, a private equity-backed outdoor clothing and equipment retailer, enjoyed a strong 2009, growing from 13 to 20 superstores. It expects another strong year.