Eurostar sees a surge in the number of passengers travelling across the channel, thanks to a weak pound.
Weak pound results in a surge in people travelling to the UK
The cross-channel rail services saw a downtrend in the number of passengers due to Nice attacks at the end of July, a trend which is giving way to more demands for UK trips now as a result of the weak pound since the UK’s vote to leave the European Union.
Encouraging signs for Eurostar
Although, the high-speed rail service witnessed a 10% fall in the number of passengers compared to the same period the previous year in its third quarter that stood at 2.6 million, it has noticed “signs of recovery ” in the past two months.
Eurostar said that it is planning to move ahead for expansion to other parts of Europe despite prevailing uncertainties over UK’s relationship with the European Union. The rail service is encouraged by an 18% increase in the number of passengers travelling between France and London during October holidays.
According to Eurostar Chief executive, Mr Nicolas Petrovic, “With the weakening of the pound, the UK is proving to be an attractive destination”.
“The outlook to the end of the year is encouraging with many travellers taking day trips to London to do their Christmas shopping.”
Boon for euro users
Buyers with euros in their wallets are keen on buying goods priced in British pounds as the currency has fallen up to 15% compared with the euro since the UK’s vote to leave the EU. Visitors to the country include Chinese and US citizens who are pouring into the country for big shopping bonanzas.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.