With the pound still well below its pre-referendum level, the twice-yearly golden week holiday in China, which began on Saturday, is expected to bring in more tourists. The tax-free shopping company Global Blue said any boost from golden week would build on a strong August for tourist spending in the UK. Westfield said its retailers were reporting that Chinese tourists were bulk-buying designer items to make the most of the weak pound. At Westfield’s west London centre, spending by Chinese visitors was up 53% on the previous year in August. Tourists’ spending picked up in July, while British holidaymakers’ cut their outgoings overseas as the weak pound made foreign holidays more expensive.

Source: The Guardian October 02, 2016 11:20 UTC