Corporate foreign exchange news

Foreign exchange market 'favours inward tourists'

Wednesday, 16 September 2009 09:51:12 GMT

Over the past year, the foreign exchange market has shifted in favour of incoming tourists to the UK, it has been claimed.
Tourism organisation UKinbound explains that the foreign exchange market in some countries has led to currency being worth 30 per cent more in the UK.
Japan, the US and Europe are among the countries of origin where travellers have seen the biggest gains, according to communications manager Helen James.
Despite the favourable foreign exchange market, she adds that the UK has seen fewer business visitors in recent months.
"The recession has undoubtedly had an impact on travel and particularly on the corporate travel market," she explains.
"Business visits to the UK were down by 36 per cent [year-on-year] in the first quarter of 2009," Ms James continues.
Figures from VisitBritain show that, while the US ranks third in terms of the number of travellers it sends to the UK each year, it also generates the greatest revenues from its visitors.ADNFCR-2522-ID-19362949-ADNFCR
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