FOREIGN tourists cashing in on the weak pound injected some Christmas cheer into the British high street with a “massive” surge in spending.High street spending on foreign bank cards was up 22% year on year in December, according to data from credit and debit card processor Worldpay.The figure suggests bargain-hunting Brexit tourists were worth £725 million to UK shops in the build-up to Christmas – £130 million more than last December.Visitors from Hong Kong spent an extra 69% in UK stores during December compared with 2015, while spending on UAE cards was up 31% and Chinese tourists placed an extra 24% on the plastic.The amount spent by French and German tourists over the festive period was up 14%.High-end boutiques and department stores in London’s West End were among the biggest beneficiaries, with tourists spending 35% more than last year.Outside of London, retailers in Manchester and Edinburgh saw year on year tourist spending rise by 19% and 24% respectively last month.Worldpay UK chief marketing officer James Frost said: “Bricks and mortar retailers have not had things all their own way this Christmas, with the latest reports suggesting UK consumers are increasingly doing the bulk of their shopping online.”So the influx of… Read full this story
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