5 reasons why the GDP SLUMP is great for tourists visiting UK
The Pound has endured quite the thrashing in value since the shocking Brexit vote, of Britain leaving the European Union, with the pound dropping by as much as 18 percent against the dollar and 12 percent against the euro.Arpita Arya
The Pound has endured quite the thrashing in value since the shocking Brexit vote, of Britain leaving the European Union, with the pound dropping by as much as 18 percent against the dollar and 12 percent against the euro.
This sudden currency depreciation, as a result of the referendum vote, has a fuelled an upsurge in tourism, as the UK has now turned to a relatively cheaper destination for foreigners who want to shop for luxury goods and visit various tourist attractions.
Here are several reasons why the GDP Slump is ideal for tourists visiting the UK:
1. The plummeting post-Brexit pound means a cheap UK vacation
With the sterling pound on a plummeting roll, this means that other currencies such as the Euro and the Dollar will have more value than the pound.
The implication of this is that you will be able to get more services with the same amount of money you planned for your vacation. The UK boasts in deeply engraved culture and breathtaking sceneries that are worth every penny, which makes it top the list in the most attractive place that you should most definitely visit.
And with the pound in turmoil, it means that you will get more from the holiday planned saving in your bank.
2. Buying British goods is now cheaper
From High-end boutiques, jewelry and department in London, to the stretch of the entire nation, the implications of the sterling pound in turmoil is that lots of these premium quality goods and products will now cost less than if the pound remained stable.
Thus tourists from stronger economies such as the euro and dollar will be able to enjoy quite the slashed prices with regards to their stronger currency. Thus, you will be able to get that good, that product that you have always wanted, all necessitated by the plummeting pound, thus creating a very lucrative opportunity, though it's best to act sooner since we cannot be sure of how long the sterling pound is going to stay in this state.
3. British Hotels and Restaurants are now much more affordable
Foreign tourists can now take advantage of the turmoil in the Brexit process, which is making the pound weak. This unrest, with consideration of the plummeting pound results to currencies such as the dollar and euro becoming stronger than the Sterling Pound, thus to foreign tourists, these posh British Hotels and Restaurant are now much more affordable.
And if in the UK for a vacation, you're set to have the time of your life, with the service offered becoming relatively cheap compared to your currency.
4. Enjoy Tax-Free Shopping in Britain
Tax-Free shopping is more of a much-added advantage to the already existing turmoil in the sterling pound value. You can now shop the world with amazing stores such as Global Blue in London offering a tax-free shopping experience. Talk about everything adding up.
Now rather than just enjoying the great interests of the pound in flux, you can also dearly benefit from taking advantage of various offers such as the ones Global Blue is presenting forth. Thus, you will be able to enjoy ideal prices in addition to them being tax-free, thus as the saying goes, ‘’shop till you drop,’’ you will indeed have the greatest experience shopping the latest trends, fashions and designs name it all.
All of which will be friendly to your pocket, hence hassle-free and indeed attractive to your very expensive.
5. Take advantage of Forex trading
The plummeting sterling pound has a lot of implications, and your travel should not be limited to enjoying local cuisines and breathtaking sceneries but should take advantage of the fluctuations on the sterling pounds and make a fortune while you enjoy the much that the UK has to offer.
Join CMC markets and earn more income as you travel by trading currencies. Thus, as a forex trader, you will be in a position to speculate on whether a currency such as the sterling pound, will go up or down about another currency such as the US Dollar.
And with the current state of the sterling pound, a lot stands to profit and to be made from the fluctuations in the exchange rate as has been observed since the dawn of the Brexit vote, of Britain leaving the European Union.