The Office of National Statistics has released the July IPS figures, which are the first post-referendum tourism figures. Although (a) they are collected on departure and many of the people surveyed will have therefore been in the country before the referendum, (b) there was very little time for the fall in the value of the pound to feed through into new arrivals and (c) monthly IPS figures are relatively inaccurate (there is a 5.9% confidence level for visitor numbers and a 9.8% confidence level for expenditure) so you need to look at about three month’s figures to get an accurate picture.
However, with all those caveats, the figures indicate that visitor numbers for the month were roughly in line with the year-to-date figures (a 2% increase) but that spend was up 4% compared to being down 3% in the year-to-date figures. This 7% turn-around is indicative of the fall in the value of the pound translating into higher expenditure – ie., if you have a 500 euro budget for your stay in the UK, it suddenly translated from £333 to £376 after the referendum.
Also of note is that while outbound travel and expenditure increased, this was at a lot lower level than the year-to-date figures