Easy come, easy go
Booming post-Olympics tourism won’t boost the economy as much as hoped
BRITONS have had some good economic news to celebrate over the past few months. Unemployment is falling, house prices in England hit a record high in July and economic output appears to be growing at its fastest pace since 2010.
At first glance Britain’s tourism industry appears to be contributing to the economic bounce. Data released this month by the Office for National Statistics suggest that there has been a big increase in foreign tourists visiting Britain since London hosted the Olympics last year. In the first seven months of 2013, foreign visitor numbers rose by 4%, compared with the same period in 2012, and spending was up 12%. In July 2013 foreign visitors spent 30% more than in July 2012, setting a new record.
This article appeared in the Britain section of the print edition under the headline "Easy come, easy go"
Britain September 28th 2013
From the September 28th 2013 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Britain
In English local elections Labour won where it needed to
And even in places where it did not
A growing number of Britons are on disability benefits
The government’s attempts to cut the welfare bill miss the bigger picture
British farmers shunned green schemes. Then the rain came
A rare Brexit dividend