Brexit to fuel inbound seaborne tourism
07 Jul 2016
We commented on the International Passenger Survey (IPS) statistics that showed that inbound tourism by sea increased by 288K visits while outbound tourism by sea in 2015 declined by 237K visits. 44% of sea tourism was inbound in 2015. If the trend continues it will not take long for inbound sea tourism to overtake outbound sea tourism.
The run up to the Brexit vote saw the pound fall this year and after the 24th June vote it has fallen more severely. If this trend continues or the strength of Sterling remains much the same it will stimulate inbound tourism to the UK and dampen outbound tourism because UK holidays will be relatively cheaper than holidays overseas. It is likely that inbound sea tourism will account for 50% of all seaborne tourism in 2016 if Sterling remains weak.