Overseas tourists to shell out ‘£27 billion in UK’ by 2017

Overseas tourists' spend in the UK will be worth more than £27 billion come 2017, a recent Barclays report forecasts.

That figure represents a 34 per cent hike on 2013 spending from such visitors.

Barclays says that leisure and hospitality and the retail sector are both going to boom, benefiting from increasing tourist spending.

There's expected to be a 33 per cent hike in hotel, dining and attraction spend come 2017, compared to last year, adding up to a £14.7 billion spend in these areas come 2017.

Foreign visitors are expected to shell out some £5.3 billion between them dining out by that time, a rise of 34 per cent.

There will be a 33 per cent hike in their hotel accommodation spends by 2017, making it worth £7.3 billion, it is also predicted.

The report states that US visitors are the biggest spenders in the UK at the moment, with those from France and Germany in second and third place on this score.

That line-up isn't expected to change by 2017, but certain emerging economies have been predicted to grow their spend more that these three visitor sources.

Tourists from China have been forecast to shell out more than £1 billion between them during 2017 – which is an 84 per cent hike on last year's figure.

“Opportunities abound for both retailers and the leisure industry to capitalise on these growing tourist numbers and spend," said Barclays' head of retail and wholesale Richard Lowe, commenting on the report.

"Businesses putting in the time and effort to understand their client demographic and to talk to their audience through whatever channels they use, be it social media or more traditional, will carve out an advantage that will enable them to offer something more tailored for each nationality that visits our shores."

Berkeley Scott is a specialist recruitment agency providing hospitality employment solutions.