UK tourism's post-Brexit bounce appears to be wearing off

MarketsAssociated Press

The boon that the British travel and tourism sector got from the country's vote to leave the European Union appears to be wearing off.

Figures from the Office for National Statistics on Friday showed that the number of overseas residents visiting the country in the last three months of 2017 was down 7 percent from the year before, while their total spending decreased by 3 percent.

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In 2017 as a whole, visitor numbers rose 3 percent while spending swelled by 8 percent.

The tourism sector enjoyed a solid year as the sharp fall in the value of the pound following the Brexit vote in June 2016 made Britain a more attractive holiday destination, particularly for a country widely perceived as one of the more expensive places to visit.