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Report predicts surge in Chinese tourist numbers and spending as sterling slumps

Published
today Aug 2, 2019
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The fall in the pound could mean more Chinese tourists coming to the UK and spending more during their visits, a new study has found.


Farfetch


The number of Chinese shoppers in the UK could increase by 22% if sterling falls to parity against the US dollar and the Chinese currency holds its value, said the report.

This could lead to Chinese tourists in the UK spending an extra £375 per person per visit, bringing the average spending per visit to £2,053.

The report was released by JGOO, a mobile payments platform, and published by China Daily.

“Under Boris Johnson, the new government appears to be taking a tougher stance over Brexit and the chances of leaving without a deal are increasing," said Richard Morecroft, director and co-founder of JGOO.

“With the chances of the Conservative Party's majority in Parliament falling to one and with the possibility of a general election, sterling is likely to fall further.

“All of this is putting pressure on sterling, and if it does fall, this will no doubt have a negative impact on many parts of the UK economy. Such a fall is likely to be a huge boost for UK retailers when selling their goods to tourists, to those buying remotely from China, and for the country's tourism industry as a whole.”

London retailers stand to benefit the most from any increase in Chinese visitors, as 48% of total spending by Chinese tourists takes place in the English capital.

The most popular time to visit the UK among Chinese citizens is between July and September, the report found.

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