The weak value of the pound has changed the UK's competitive position as a tourist destination and could be considered the "silver lining to the cloud of recession" according to the Tourism Alliance.
The weakness of the pound against the US dollar, and now equal to the euro (after commission and handling fees are deducted), presents an opportunity for the UK's domestic and inbound tourism industries that the alliance calls for the government to fully exploit.
Hospitality operators are also being urged to take advantage of the pound's weakening value by encouraging foreign and domestic tourists to stay in the UK. British tourists visiting European destinations are paying up to a third more for hotel rooms and food.
Bob Cotton, Tourism Alliance chair, said: “The fall in the value of the pound represents a 21 per cent saving for people travelling to the UK from the Eurozone and 27 per cent for those from the USA. This makes the UK the value destination for overseas visitors undertaking holidays during 2009 and means that a holiday at home is now t he best option for British residents.”
In a bid to maximise the potential benefits, the Tourism Alliance, VisitBritain and Visit England are lobbying for the government to develop, implement and invest in the 'Explore Britain' campaign to boost domestic and overseas marketing in the New Year.
Cotton added: "The booking period for the summer market is February to April next year so we need to act very quickly on this. Ironically, the economic turmoil has given us this competitive advantage, which we must exploit for the long term benefit of Britain's economy.
The Welsh Assembly Government has already tapped into this potential by launching a 40 second UK advert on UK TV and in cinemas as part of a £2.2m investment in tourism marketing, designed to show how holidays have changed in Wales.
Heritage minister, Alun Ffred Jones, said: "This change in holidays is set against the backdrop of economic uncertainty. This is likely to make the market think harder and differently about their holiday choices, we could see a substitution of more expensive foreign holidays to UK holidays. People are now looking for real value and authentic quality, not over indulgence and ostentation. "
