Brexit Boosts Tourism In Britain

Tourism in Britain is booming! Around 10.75 million visitors made their way over between April and June, which is an 8% increase compared to 2016. A boost in tourism is probably one of the few pro’s that have been a result of Brexit on sterling, which has made Britain a cheaper place to visit. Although we don’t have the best weather to offer and aren’t the perfect holiday destination, tourism still saw a rise of 20%, whilst business trips dropped by around 4%. An estimated 72% of these visits were from Europe, which only increased by 3% compared to 2016. The largest increase came from North America, which may make up a smaller portion of the total number of visitors but increased by a huge 29% to 1.47 million visitors compared to 2016.

On a more daunting note, the hackers might be assembling a return. The cyber attacks that have been occurring in Ukraine and across Europe this year have made everyone more cautious, and the central bank of Ukraine today has taken it upon themselves to raise awareness to state-owned as well as private lenders of a new potential attack, which they believe could occur on the 24th August, the day the country will be celebrating its independence from the Soviet Union. The new malware is apparently one which is spread by opening email attachments of word documents, and is feared to be a mass cyber attack on the corporate networks of Ukrainian businesses.

The FTSE opened 0.6% lower following the awful attacks which occurred in Barcelona. Only five stocks out of the entire index were trading marginally higher during the early hours. By the end of the day the index was trading even lower than the initial opening, almost matching the close on Friday last week of 7310 which was a result of Kim Jong Un and Donald Trumps’ war of words. Any gains that were made as of Monday were reversed and the index concluded the week 0.86% lower at 7323.

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