Tourism spend in the UK could top £2.4 billion over the summer, as the “Ramadan rush” sees sales skyrocket.
According to payments processor Worldpay, the end of Ramadan saw a huge boost in Middle Eastern shoppers flock to the UK, spending 59 per cent more over Eid.
Luxury retailers came out on top with sales rising 63 per cent over the period, as tourists cashed in on the weakened sterling.
Aside from the boost in Middle Eastern tourism, Russian and US tourists also contributed to this substantial growth by spending 25 and 19 per cent more over June respectively.
Throughout June, Worldpay estimates tourist spend hit £643 million, up 18 per cent on the same period last year.
“Sterling‘s slump is continuing to attract visitors in their droves, safe in the knowledge that their holiday cash will stretch a little further,” Worldpay UK‘s chief marketing officer James Frost said.
“Eid provides a useful barometer for foreign spending more broadly. The latest figures from this year‘s festival point towards a summer spending frenzy from overseas visitors looking to cash in on the weak pound.
“It tends to be London that grabs the headlines when it comes to tourist spending, but the reality is destinations right across the UK are benefiting from an influx of free-spending tourists.
“Businesses in Scotland and Wales have already seen foreign spending surge by as much as 27 per cent compared to last year, and this could increase further in July and August.
“By investing to make their businesses more attractive to global customer, retailers and tourist hotpots across the UK could make serious gains from the pound‘s performance this summer.”