UK holidays have helped the British economy improve post-Brexit
Staycations have been popular since the Brexit vote, partially down to the weaker pound
UK holidays have helped Britain have the strongest retail spending in nearly two years, which is great news for the British economy.
Staycations have been popular since the Brexit vote, partially down to the weaker pound.
Like-for-like sales values in the UK rose 2 per cent in August, which is the strongest performance in the last four years.
As the economy cooled off due to the rise in inflation, the increase comes as great news.
Accountancy firm BDO reported the findings after the sales values dropped 0.6 per cent in July before the improvement in August.
The weaker pound has also brought in more foreign tourists on holiday, which has further improved the spending economy.
BDO has highlighted that the strong performances reported for lifestyle, fashion and homeware are due to “stay-at-home holidaymakers”.
The strong month is a great start as the holiday season ends, but could mean a tougher time for the next few trading months
Sophie Michael, head of retail and wholesale at BDO commenting: “As school terms begin after the summer break and the start of festive trading nears, retailers will be gearing up for their most critical trading months.”
UK holiday staycations have risen due to the weaker pound
The rise of the staycation holiday for Britons has also meant many hotels and B&B’s have reported a surge in bookings, another great sign for the UK economy.
Destinations such as Cornwall and Devon remain popular, as the Cornish coast was revealed to be the happiest place in the UK.
However other destinations around the UK have reported an increase as more holidaymakers seek to explore the more of the UK.
This has included the north of the country.
UK holidays have increased lifestyle spending, with August reporting an increase
Places such as the Yorkshire Moors and the Lake District are increasing in popularity as Britons want to see more of their home country.
The Lake District has recently become the first UNESCO heritage site in the UK, leading to its popularity boom.
With staycation holidays being cheaper as well as easier to get to, it seems that the holiday abroad is being shunned for a much more relaxing trip around Britain.