The provisional International Passenger Survey data for August 2017 has been released, showing a 10% year-on-year increase in visitor spending. The increase, likely due to the decreased value of the pound, will potentially translate to an additional £2.2bn in export earnings this year.
The low exchange rate also appears to have a much greater impact on long haul markets than on short haul, and while holiday visitors take advantage of the favourable rate with visits up by 17%, business travellers have been more cautious with visits down by 1%, likely due to uncertainty surrounding Brexit.
