British tourists will flock to Europe this summer due to strong Pound
04 June 2015
Canadean predicts strong growth in outbound trips from the UK to Europe, while fewer Brits will travel to the US this year.
According to new research by Canadean, Europe will be a prime destination for British tourists this year, while the US is losing popularity. Spain – the number one holiday destination for UK tourists – is expected to attract an additional 352,000 British tourists in 2015. For he first time ever, more than 12 million Brits will travel to Spain, while more than 8 million will visit France. Outbound trips to the United States, however, will only grow by a marginal 2.2% to reach 3.3 million in 2015, compared to a growth rate of 5.8% in the previous year.
Table: Top ten countries for outbound trips from the UK.
UK tourists have 15% more spending power in Europe this year
Arnie van Groesen, analyst at Canadean, sees a clear connection between the increase in outbound trips to Europe and the strong performance of the Pound: “The Euro has been in downfall since the beginning of the year, which makes it cheaper for British citizens to go to Europe.” In March 2015, the Pound reached a seven year high against the Euro, which means that UK tourists will have 15% more spending power in Europe compared to last year. In 2014, the average British holidaymaker spent 10.5 nights at their outbound destination, while spending around £1060 per trip.
Almost half of UK consumers say good exchange rates are “important”
A Canadean survey, conducted in January 2015, found that 44% of UK consumers consider it either important or very important whether a country has a good exchange rate when they are searching for a holiday destination. “The US is looking expensive this year compared to Europe as the US dollar is currently the strongest it has been against the pound for five years. This would explain the sudden drop in outbound trips to the States,” says van Groesen.
Spain is expected to attract an additional 352,000 British tourists in 2015.
All numbers used in this text are based on a Canadean report: 'Source Market Insights: United Kingdom,' published in May 2015.
Please get in contact if you have any questions to this or other Canadean surveys. Analysts are available to comment. Contact the Canadean press office on +44 (0) 207 936 6536 or email email@example.com.