Weaker pound should see more tourism says hotels expert
The prospect of favourable exchange rates as a result of the EU Referendum and a vote to leave could bring more visitors to the region – providing a much needed tonic for the leisure sector hoteliers and publicans.
That is the view of Hotels Director Peter Brunt of Colliers International, who says tourist areas such as the Cotswolds, Ludlow, Bath, Dorset, Devon and Cornwall could benefit from an increase in overseas visitors now the pound is more affordable for international tourists.
Furthermore, UK tourists may choose to stay at home worried about the escalating costs of overseas travel.
Mr Brunt said: “With a weaker pound we should see more tourists, both ‘staycation’ and from abroad. This has to be good news for locations like the South West peninsula and the Cotswolds.
“The value of the British pound down relative to the U.S. dollar, making it likely that more U.S. travellers will also be visiting Britain to take advantage of the disparity.”
Mr Brunt said he believed the hotel industry was unlikely to be significantly affected by the referendum decision for the UK to leave the EU.
“The hospitality industry is in much better shape than it has been since before the downturn, with visits to the UK rising five per cent in the 12 months leading up to April,” he said.
“I feel sure that this industry will remain resilient and the people of the UK, the market and financial institutions will get used to the idea that we have left the EU.”