U.K. airline tries to lure travelers with weak pound
"When life gives you lemons, make lemonade." Perhaps that was the thinking in British Airways' marketing offices after the pound plunged to a 31-year low following last week's Brexit vote.
The U.K. is a favorite tourist destination for many Americans. According to VisitBritain, U.S. visitors made up 9 percent of the 36.1 million tourists visiting the country in 2015, with more than 3.2 million Americans making the trip last year. And while only the French visited the U.K. in greater numbers, American visitors spent the most.
But Britain has historically been a pricey place to visit, due in large part to the currency exchange rate. Now, Americans can enjoy a "Brexit discount," and British Airways is taking advantage of it, tweeting:
Your dollar has never gone further, and with our amazing 3 day sale you can see even more of London! https://t.co/yaaJ808kVW
— British Airways (@British_Airways) June 27, 2016
It was unclear whether other U.K. airlines, like Virgin Atlantic, easyJet or Monarch would follow suit with their own Brexit-related promotions.
The Brexit vote is causing real anxiety among many U.K. companies: The parent company of British Airways, as well as discount airline easyJet, both warned that their profits could take a hit this year. Virgin Atlantic founder Sir Richard Branson, meanwhile, said he suspects that his Virgin Group holding company has lost a third in value since the vote.