Barclays predicts biggest spenders in 2017
Spending by overseas visitors is set to grow by just over a third by 2017, according to a report commissioned by Barclays.
According to the Barclays’ Tourist Dynamics report 2014, over £27 billion will be spent in 2017, an increase of 34% on 2013.
The report says rapid growth in tourism spend from emerging economies like China and Russia will be further boosted by loosening visa restrictions, with Chinese tourists spending £1bn, an increase of 84% from 2013.
Meanwhile, Russia and UAE will enter top 10 UK spenders’ league table by 2017, pushing out Canada and the Netherlands.
But visitors from the US currently, followed by France and Germany, will continue to be the biggest spenders.
Mike Saul, head of hospitality and leisure at Barclays, said: "The lifting of visa restrictions presents a huge opportunity and so the importance of how operators market themselves to their different audiences cannot be overstated.
"Whether it’s engaging with in-flight publications, working with local tourist offices, promoting their business overseas or collaborating with other retailers and leisure operators in their local environment, the benefits of targeted profile-raising can make the difference."
When split down by sector, the report forecast that spending on hotels, eating out and attractions will rise by 33% to £14.7 billion in 2017.
Overseas visitors are set to spend £5.3 billion on eating out by 2017, up by 34%, with spend on leisure attractions increasing by 32% to £2 billion, and hotel accommodation attracting £7.3 billion in spend by 2017, an increase of 33%.
Top 10 foreign nationalities’ spend:
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026