Post-Brexit tourism surge may not account for surging luxury watch sales in the UK

New Bond Street Has Become Europe’s Most Expensive Avenue

The number of holidaymakers coming to the UK has fallen by over 400,000 people in the first nine months of 2016, according to research released this week by the British Hospitality Association.

The watch industry has seen sales of luxury watches rocket this year, with growth frequently attributed to a rise in tourism following the post-Brexit referendum fall in the value of the pound.

That assessment may have to be reappraised in light of research that found fewer people saying they came to the UK for leisure.

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The BHA did note that business travel to the UK, and visits to family and friends have risen this year, contributing to an overall rise in visitors of 700,000.

“There has been no post-European referendum tourist surge,” said Ufi Ibrahim, chief executive of the BHA.

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Rob Corder

The author Rob Corder