Illuminated ads in London Picadilly Circus look towards 2012
The global downturn has taken its toll on tourism and Britain has been no exception despite being the world's sixth top tourist destination.
During August to October 2008, the number of visits to the UK by overseas residents decreased 4 percent to 7.8 million compared to the previous three months, according to the Office for National Statistics.
Over the same period, the number of visits abroad by UK residents decreased by 6 percent to 16.4 million, with associated spending falling 6 percent to £8.8 billion.
For many British people, routine holidays, especially trips abroad, have been affected by a depreciating pound. Its devaluation has mainly resulted from sharp cuts in interest rates as Britain beefed up its efforts to achieve economic recovery.
The latest reduction has sunk the basic rate to 1.5 percent, the lowest level since the Bank of England came into existence in 1694.
Compared to the British situation, the emerging tourism markets in Asia have broadly followed similar slowdown patterns.
International tourist arrivals in Asia and the Pacific are estimated to have increased by around 3 percent between January and October 2008, as compared to a 10.5percent growth for the whole year 2007, according to The World Tourism Organization.
As the tourist industry becomes a more important contributor to the economy, Britain is eyeing rising visits from Asia, especially China and India.
Needless to say, the appreciation of Chinese RMB against the pound by 33 percent ever since late 2007 has enabled Chinese visitors to feel more relaxed when paying their bills in the UK.
However, the gloomy situation in Britain has spoilt the pleasure and excitement of many ordinary Chinese visitors as they spend their devalued pound.
Li Zhong and his wife are paying their second visit since 2006 to see their daughter who is working in London.
"We don't need to worry about the price of whatever we would like to buy in China, but in London we have to think about every penny we want to spend, "Li said, "Because I can see earning money is getting difficult. The rising unemployment increases the anxiety of uncertainty for the future as there are fewer job opportunities in Britain."
"So even if the pound is devalued, we still prefer to spend in China rather than in Britain," he said.
"In the long term, the continuing devaluation of the pound is not good for the British economy, its customers, and especially hard-working people in this country," he said.
The 2008 Christmas sales which started earlier than usual in London left Li with a strong impression. However, the couple bought fewer bargains than their first visit here as they want their daughter to save the money for the gloomy times ahead. They have even decided not to visit their daughter again in the coming years.
Facing further economic woes ahead, Britain has pinned its hopes for a boom in the tourist industry as it builds towards the 2012 Olympics.
Copyright Dongying Wang
Read a related article, “Weaker pound forces Britons to tighten holiday budget,” written by Dongying Wang and published by Xinhua News Agency in January 2009, please click here.
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