The beaten-up pound fuelled a surge in Brexit tourism to the UK over Christmas, according to figures published by Worldpay on Friday.
Foreign visitors spent more than £725m in British shops during December, according to the payments processor, leading to a 22 per cent swell in spending on foreign cards in the country during the month.
UK Christmas shoppers splashed out an extra £500m on groceries
Worldpay says that this translates into a £130m increase over the same period last year in total spending on non-UK cards at retailers.
The pound has endured a battering since June’s shock Brexit vote, depreciating around 18 per cent since the referendum. As a result, tourists who earn a living in other currencies have in effect been able to buy British goods at much lower prices than if sterling had remained stable.
High-end boutiques and department stores in London’s West End proved particularly popular destinations for bargain hunters, with foreign spending there up 35 per cent on the 2015 figure.
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